Income Tax (Exemption of Payments for Economic and Technological Development) (No 2) Notification 2011

24 June 2011

The royalties payable by Singapore Precision Industries Pte Ltd to the International Olympic Committee on or before 30 July 2011 will be exempted from tax for the:

(a) rights granted by the International Olympic Committee under the International Distribution Agreement dated 5 August 2010, and

(b) rights granted under the Merchandise License Agreement dated 23 June 2010,

in respect of the first Summer Youth Olympic Games held in Singapore from 14 August 2010 to 26 August 2010.

Source: e-Gazette