Income Tax (Exemption of Interest on Economic and Technological Development Loans) (Consolidation) Notification

Income Tax Act

(Chapter 134, Section 13(2))

N 4

REVISED EDITION 1994

(30th April 1994)

1.The interest payable by Fujikura Asia Limited from 1st April 1990 to 31st March 1996 to the following companies shall be exempt from tax:—(1) FIMT Ltd.

(2) Fujikura Engineering (Thailand) Ltd.

(3) Fujikura (Thailand) Ltd.

(4) PCTT Ltd.

(5) KDK Fujikura (Thailand) Ltd.

(6) DDK (Thailand) Ltd.

(7)

[Deleted by S 445/94]

(8) Dainichi Color (Thailand) Ltd.

(9) S & F International Ltd.

(10) Koshin (Thailand) Ltd.

(11) Korea KDK Co. Ltd.

(12) Hanil Chun Chang Co. Ltd.

(13) Fujikura Federal Cables Sdn. Bhd.

(14) Federal Power and Telecoms Sdn. Bhd.

(15) Fujikura International Management (Netherlands) BV.

(16) Fujikura Hong Kong Ltd.

(17) Fujikura Zhuhai Co. Ltd.

(18) Fujikura Ltd.

[S 110/93]

[2.4.93]

2. The interest payable by Asia Matsushita Electric (Singapore) Pte. Ltd. from 1st April 1992 to 31st March 1997 to the following companies shall be exempt from tax:

(1) Matsushita Air-Conditioning Corporation Sdn. Bhd.

(2) Matsushita Audio Video (M) Sdn. Bhd.

(3) Matsushita Compressor & Motor Sdn. Bhd.

(4) Matsushita Electronic Motor (M) Sdn. Bhd.

(5) Matsushita Industrial Corporation Sdn. Bhd.

(6) Matsushita Precision Industrial Co. (M) Sdn. Bhd.

(7) Matsushita Television Co. (M) Sdn. Bhd.

(8) Matsushita Electric Co. (M) Sdn. Bhd.

(9) A.P. National Co. Ltd.

(10) Panasonic Welding Industry (Thailand) Co., Ltd.

(11) P.T. National Gobel.

(12) Matsushita Electric Components (M) Sdn. Bhd.

(13) Matsushita Electric Services (M) Sdn. Bhd.

(14) Matsushita Precision Capacitor (M) Sdn. Bhd.

(15) P.T. Matsushita Gobel Battery Industry.

(16) P.T. National Panasonic Gobel.

(17) P.T. Kotobuki Electronics Indonesia.

(18) P.T. Asia Matsushita Battery.

[S 541/95 wef 12/05/1994]

[S 112/93]

[8.4.93]

[S 150/93]

3. The interest payable by Thomson Consumer Electronics Asia Pte. Ltd. from 1st January 1993 to 31st December 1997 to the following companies shall be exempt from tax:

(1) Thomson Audio Muar Sdn. Bhd.

(2) Thomson Audio Kulim Sdn. Bhd.

(3) Thomson Audio Kota Tinggi Sdn. Bhd.

(4) TCE Audio Hong Kong Ltd.

(5) European-Thai Electronics Co. Ltd.

(6) TCE Television Thailand Co. Ltd.

(7) European Audio Products (HK) Ltd.

(8) PT Thomson Television Indonesia.

(9) TCE Television Taiwan Ltd.

(10) Thomson Consumer Electronics Inc.

(11) Thomson Consumer Electronics SA.

(12) Thomson SA.

[S 128/93]

[23.4.93]

4. The interest payable by GE Pacific Pte. Ltd. from 1st January 1991 to 31st December 1999 to the following companies shall be exempt from tax:

(1) GE CGR France.

(2) IGE Medical Systems.

(3) GE Thorn Lamps.

(4) GE Plastics ABS SA.

(5) GE Plastics BV.

(6) General Electric Canada Inc.

(7) Tungsran Co. Ltd.

(8) PT Astra Sedaya Finance.

(9) Eurolec BV.

[S 152/93]

[30.4.93]

[Deleted by S 413/94]

6. The interest payable by Sony International (Singapore) Ltd to Meritorious Pty Limited (Australia) under the AUD80,000,000 Term Loan Facility and the swap payments made by Sony International (Singapore) Ltd to Citibank Limited (Australia) under the Interest Rate and Currency Exchange Agreement, both dated 4th June 1992, shall be exempt from income tax from 30th June 1992 to 30th June 1997.

[S 248/93]

[18.6.93]

7. The interest payable by A.P. Moller Singapore Pte. Ltd. on the two promissory notes dated 11th September 1992 and 12th September 1992 to Dampskibsselskabet af 1912, Aktieselskab, Denmark and Aktieselskabet Dampskibsselskabet Svendborg, Denmark, respectively, shall be exempt from income tax from 11th September 1992 to 12th September 1997.

[S 260/93]

[25.6.93]

8.—(1) There shall be exempt from tax interest received from any of the A$100,000,000 Commonwealth Bank of Australia 8¾% Notes due 14th September 2000 issued on 20th July 1992 by —

(a)	any non-resident individual; and
(b)	any person, other than an individual, if that person does not, by himself or in association with others, carry on a business in Singapore and does not have a permanent establishment in Singapore.

(2) The exemption is subject to the conditions stipulated in the Ministry of Finance’s letter dated 22nd January 1985.

[S 341/93]

[20.8.93]

9. The interest payable by Enterprise Trading Pte Ltd to Export Finance and Insurance Corporation, Australia, under the Credit Agreement dated 5th February 1993 shall be exempt from tax from 11th February 1993 to 15th July 2001.

[S 372/93]

[17.9.93]

10. The interest payable by Dow Services Singapore Pte. Ltd. to the following companies shall be exempt from tax from 1st March 1993 to 28th February 2001:

(1) Dow Chemical Japan Ltd.

(2) Dow Chemical Australia Ltd.

(3) Dow Chemical Pacific Ltd.

(4) Dow Chemical Pacific Ltd, Malaysian branch.

(5) Dow Chemical Pacific Ltd, Pakistan branch.

(6) Dow Chemical International Ltd.

(7) PT Pacific Chemical Bhd.

(8) Dow Chemical (H.K.) Ltd.

(9) The Dow Chemical Co.

(10) Dow International Service Centre SA.

(11) Dow Capital BV.

(12) PT Pacific Indomas Plastic Indonesia.

(13) Zhejiang Pacific Chemical Corporation.

[S 541/95 wef 01/10/1993]

(14) PT Dow Polymers Indonesia.

[S 541/95 wef 09/06/1994]

[S 424/93]

[22.10.93]

11. The interest payable by Cargill Financial Services (Asia) Pte. Ltd. to the following companies shall be exempt from tax from 1st June 1993 to 31st May 2000:

(1) Cargill Incorporated.

(2) Cargill Financial Services Corporation.

(3) Cargill Financial Services Corporation Limited.

(4) Cargill Financial Services International.

(5) CFSC Asset Management, Inc.

(6) Cargill Asset Management, Inc.

(7) Cargill Southeast Asia Ltd.

(8) Cargill Investor Services Inc.

(9) CIS Financial Services, Inc.

(10) CIS Managed Assets, Inc.

(11) Cargill Australia Ltd.

(12) Cargill Financial Markets Ltd.

(13) Cargill Eurofinance BV.

(14) Cargill Hong Kong Limited.

(15) Cargill Holdings (Malaysia) Sdn. Bhd.

(16) Cargill New Zealand Limited.

(17) Cargill Philippines, Inc.

(18) Agrotex Commodities, Inc.

(19) Cargill Korea, Incorporated.

(20) Cargill Taiwan Corporation.

(21) M A Cargill Trading Ltd.

(22) Cargill Limited.

(23) Cargill Thai Trading Ltd.

(24) Cargill Siam Limited.

(25) PT Cargill Indonesia Pte. Ltd.

(26) Cargill Global Funding PLC.

[S 541/95 wef 06/02/1995]

(27) Cargill Financial Services International Inc. (Geneva Branch).

[S 541/95 wef 06/02/1995]

(28) Changchun-Cargill Agricultural Products Processing Co. Ltd.

[S 541/95 wef 06/02/1995]

(29) Cargill Trading (Shanghai) Ltd.

[S 541/95 wef 06/02/1995]

(30) CGL Holdings (Mauritius) Ltd.

[S 77/96 wef 28/11/1995]

(31) Bharat Cargill Holdings Pte. Ltd.

[S 77/96 wef 28/11/1995]

[S 425/93]

[22.10.93]

12. The interest payable by New Zealand Milk Products Treasury (Singapore) Pte. Ltd. to the following companies shall be exempt from tax from 1st September 1993 to 31st August 1998:

(1) New Zealand Milk Products (M) Sdn. Bhd.

(2) Susumas Sdn. Bhd.

(3) Dairymas (M) Sdn. Bhd.

(4) New Zealand Milk Products (F.E.) Ltd.

(5) New Zealand Milk Products (F.E.) Ltd, Taiwan branch.

(6) Manzdel Distributors Ltd.

(7) New Zealand Milk Products Bangladesh Ltd.

(8) New Tai Milk Products Co. Ltd.

(9) NZ Milk Products (Thailand) Co. Ltd.

(10) Tira Anchor Indonesia.

(11) New Zealand Milk Products (China) Ltd.

(12) PNZ Packers Inc.

(13) PNZ Marketing Inc.

(14) Philippine Dairy Products Corporation.

(15) New Zealand Milk Products Lanka (Private) Ltd.

(16) New Zealand Dairy Board.

(17) New Zealand Dairy Board Finance.

(18) Dairy Investments (Bermuda) Ltd.

(19) Dairy Board Finance Corporation Ltd.

(20) New Zealand Dairy Board Finance Ltd.

(21) New Zealand Dairy Board Finance (U.K.) plc.

(22) New Zealand Milk Products (S.A.) Pty. Ltd.

(23) Anchor Foods Ltd.

[S 541/95 wef 21/04/1995]

(24) Milk Products Holdings (Europe) Ltd.

[S 541/95 wef 21/04/1995]

(25) NZ Cattle Semen Import (U.K.) Ltd.

[S 541/95 wef 21/04/1995]

(26) Diary Industries Jamaica Ltd.

[S 541/95 wef 21/04/1995]

(27) Milk Products Holdings (Latin America) Ltd.

[S 541/95 wef 21/04/1995]

(28) New Zealand Milk Products (Florida) Inc.

[S 541/95 wef 21/04/1995]

(29) New Zealand Milk Products (Middle East) E.C.

[S 541/95 wef 21/04/1995]

(30) Milk Products Holdings (North America) Inc.

[S 541/95 wef 21/04/1995]

(31) New Zealand Milk Products (U.K.) Ltd.

[S 541/95 wef 24/08/1995]

(32) New Zealand Milk Products (Europe) Ltd.

[S 541/95 wef 24/08/1995]

(33) New Zealand Milk Products (Italia) SLR.

[S 541/95 wef 24/08/1995]

(34) Milk Products (N.Z.) Ltd.

[S 541/95 wef 24/08/1995]

(35) New Zealand Dairy Services (Latin America) Inc.

[S 77/96 wef 22/12/1995]

[S 426/93]

[22.10.93]

LEGISLATIVE HISTORY

Income Tax (Exemption of Interest on Economic and Technological Development Loans) (Consolidation) Notification

This Legislative History is provided for the convenience of users of the Income Tax (Exemption of Interest on Economic and Technological Development Loans) (Consolidation) Notification. It is not part of this Notification.

G. N. No. S 110/1993—Income Tax (Exemption of Interest on Economic and Technological Development Loans) (Consolidation) Notification 1993

Date of commencement

Date not available

G. N. No. S 413/1994

Date of commencement

Date not available

G. N. No. S 445/1994

Date of commencement

Date not available

1994 Revised Edition—Income Tax (Exemption of Interest on Economic and Technological Development Loans) (Consolidation) Notification

Date of operation

30 April 1994