Category: e-Gazette

Income Tax (Exchange of Information Arrangement) Order 2016 comes into operation on 1 May 2016 [S 34/2016]

On By taxsgIn Corporate Tax, e-Gazette, Legislative Updates

2 February 2016

The Income Tax (Exchange of Information Arrangement) Order 2016 was first published in the Government Gazette, Electronic Edition, on 25 January 2016 and comes into operation on 1 May 2016.

In the Order, the Declaration of Exchange of Information Arrangement states that Singapore is a party to the Convention on Mutual Administrative Assistance in Tax Matters.

The Schedule of the Order is listed as follows:

  • Chapter 1 – Scope of the Convention
  • Chapter 2 – General definitions
  • Chapter 3 – Forms of assistance
  • Chapter 4 – Provisions relating to all forms of assistance
  • Chapter 5 – Special provisions
  • Chapter 6 – Final provisions

Singapore signed the Convention on Mutual Administrative Assistance in Tax Matters on 29 May 2013.

Source: Government Gazette

Stamp Duties (Shipping Investment Enterprise) (Remission) (Amendment) Rules 2015 deemed to have come into operation on 24 February 2015 [S 524/2015]

On By taxsgIn e-Gazette, Legislative Updates

15 September 2015

The Stamp Duties (Shipping Investment Enterprise) (Remission) (Amendment) Rules 2015 were first published in the Government Gazette, Electronic Edition, on 31 August 2015.

Rule 3 (Remission of Duty) of the Stamp Duties (Shipping Investment Enterprise) (Remission) Rules 2014 (G.N. No. S 99/2014) is amended by deleting the words “1st March 2011 to 31st May 2016” and substituting the words “1 March 2011 to 31 May 2021”.

Source: Government Gazette

Stamp Duties (Container Investment Enterprise) (Remission) (Amendment) Rules 2015 deemed to have come into operation on 24 February 2015 [S 523/2015]

On By taxsgIn e-Gazette, Legislative Updates

15 September 2015

The Stamp Duties (Container Investment Enterprise) (Remission) (Amendment) Rules 2015 were first published in the Government Gazette, Electronic Edition, on 31 August 2015.

The following are amended in the Stamp Duties (Container Investment Enterprise) (Remission) Rules 2014 (G.N. No. S 98/2014):

  • Rule 2 (Definitions), by deleting the words “, but does not include a company that is established solely to lease any container under the circumstances provided for in the regulations made under section 10D(1) of the Income Tax Act” in the definition of “special purpose company”.
  • Rule 3 (Remission)

(a) by deleting the words “Subject to paragraph (2), there” in paragraph (1) and substituting the word “There”;

(b) by deleting the words “1st June 2011 to 31st May 2016” in paragraph (1) and substituting the words               “1 June 2011 to 31 May 2021”; and

(c) by deleting paragraph (2).

Source: Government Gazette

Income Tax (Definition of Designated Unit Trust) Rules 2015 deemed to have come into operation on 1 September 2014 [S520/2015]

On By taxsgIn e-Gazette, Legislative Updates

15 September 2015

The Income Tax (Definition of Designated Unit Trust) Rules 2015 were first published in the Government Gazette, Electronic Edition, on 31 August 2015.

The Rules provide for the definition of “designated unit trust” whereby the unit trust schemes and exchange traded fund interest schemes set out on the Internet website of the Central Provident Fund Board at http://www.cpf.gov.sg are prescribed for the purposes of paragraph (a) of the definition of “designated unit trust” in section 35(14) of the Act.

Source: Government Gazette

Income Tax (PIC Automation Equipment) (Amendment) Rules 2015 [478/2015]

On By taxsgIn Corporate Tax, e-Gazette

11 August 2015

The Income Tax (PIC Automation Equipment) (Amendment) Rules 2015 [478/2015] were published in the Government Gazette, Electronic Edition on 6 August 2015. The Rules amend:

  • Rule 3(1) of the Income Tax (PIC Automation Equipment) Rules 2012 (G.N. No. S 209/2012) by deleting the words “the core process or one of the core processes” in sub‑paragraph (a) and substituting the words“one or more of the work processes” and deleting sub paragraph (c).
  • The Schedule to the Income Tax (PIC Automation Equipment) Rules 2012, by inserting a Part 1, made up of the following changes:

– inserting, immediately after the words “Injection mould” in item 14, the words “and extrusion”;

– inserting, immediately after the word “systems” in item 16, the words “, and computer controlled offset printing press,”;

– deleting item 22 and substituting the following item:

“22. Automated kitchen equipment (including but not limited to any automated equipment used for food processing or preparation, dishwasher and blast freezer) used in connection with the sale of any food, where such sale forms the whole or a part of the applicant’s trade, profession or business.”;

– inserting, immediately after item 34, the following items:

“35. Qualifying construction equipment.

36. Automated equipment for cleaning, scrubbing, shampooing or cleaning-related operations, for the purpose of cleaning or maintaining any place or part of a place, including any such equipment when mounted on a vehicle but not the vehicle itself.

37. Automated cover systems for open-top containers.

38. Qualifying landscaping equipment.

39. Bi-directional mass flow metering system installed on a bunker tanker.

40. Qualifying waste management equipment.”;

  • The Schedule to the Income Tax (PIC Automation Equipment) Rules 2012, by inserting a Part 2 comprising definitions of “qualifying construction equipment”, “qualifying landscaping equipment”, “qualifying waste management equipment”.

The following takes effect from:

  • YA 2013 onwards: Rules 2 and 3(a), (b), (c), (d), (e) (items 35 and 36 of Part 1 of the Schedule) and (f) (paragraph 1 of Part 2 of the Schedule)
  • YA 2014 onwards: Rule 3(e) (items 37 and 38 of Part 1 of the Schedule) and (f)(paragraph 2 of Part 2 of the Schedule)
  • YA 2015 onwards: Rule 3(e) (items 39 and 40 of Part 1 of the Schedule) and (f)(paragraph 3 of Part 2 of the Schedule)

Source: Government Gazette