27 July 2012
The Income Tax (Exemption of Income of Approved Companies Arising from Funds Managed by Fund Manager in Singapore) (Amendment) Regulations 2012 have been published on 20 July 2012.
The following Regulations in the Income Tax (Exemption of Income of Approved Companies Arising from Funds Managed by Fund Manager in Singapore) Regulations 2010 (G.N. No. S 8/2010) (referred to in these Regulations as the principal Regulations) are affected:
- Definitions of ‘Singapore person” have been amended (Regulation 2)
- Income exempted under section 13R of the Income Tax Act (Regulation 3)
- Where there is no deduction in respect of loss arising from designated investments (Regulation 4)
- Persons exempted from application of certain provisions (Regulation 5)
- Issuance of an annual statement and declaration (Regulation 7)
The amendments to the principal Regulations are operationally effective on the dates as specified in the Regulations.