Income Tax (PSU Third Pte. Ltd. — Section 13(4) Exemption) Notification 2025

No. S 533

Income Tax Act 1947

Income Tax
(PSU Third Pte. Ltd. —
Section 13(4) Exemption)
Notification 2025

In exercise of the powers conferred by section 13(4) of the Income Tax Act 1947, the Minister for Finance makes the following Notification:

Citation and commencement

1.  This Notification is the Income Tax (PSU Third Pte. Ltd. — Section 13(4) Exemption) Notification 2025 and is deemed to have come into operation on 25 September 2018.

Exemption

2.—(1)  The interest of US$3,388,791.16 paid by PSU Third Pte. Ltd. to Credit Suisse AG during the period from 25 September 2018 to 25 September 2022 (both dates inclusive) in respect of the loan amount of US$27,000,000 under the loan agreement dated 11 June 2018 between PSU Third Pte. Ltd. and Credit Suisse AG for financing the acquisition of the vessel “PSU Third”, is exempt from tax.

(2)  The exemption in sub‑paragraph (1) is subject to the conditions specified in the letter from the Ministry of Finance dated 23 April 2025 and addressed to PSU First Pte. Ltd., PSU Third Pte. Ltd. and PSU Tenth Pte. Ltd.

Made on 8 August 2025.

LAI CHUNG HAN

Permanent Secretary,
Ministry of Finance,
Singapore.

[AG/LEGIS/SL/134/2025/1]