No. S 527
Income Tax Act
Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 5) Notification 2009
1. This Notification may be cited as the Income Tax (Exemption of Interest and Other Payments for Economic and Technological Development) (No. 5) Notification 2009 and shall be deemed to have come into operation on 12th May 2009.
—(1) There shall be exempt from tax the upfront fees and interest payable by BOC Aviation Pte. Ltd. to Bank of China Limited, London Branch under the Loan Agreements dated 21st May 2009 in respect of 2 Boeing B777-300ER aircraft and 2 Boeing B777-200LRF aircraft with Manufacturer’s Serial Numbers 32968, 37433, 32965 and 32966, respectively.
(2) The exemption is subject to the terms and conditions specified in the letter of approval dated 5th August 2009 addressed to BOC Aviation Pte. Ltd.
[MF(R) 32.12.2327 V8; AG/LEG/SL/134/2005/8 Vol. 2]