26 April 2013

The Income Tax (Exemption of Income of Non-residents Arising from Funds Managed by Fund Manager in Singapore) (Amendment) Regulations 2013, published in the electronic Gazette on 25 April 2013, shall be deemed to be operationally effective on 17 February 2012.

The Income Tax (Exemption of Income of Non-residents Arising from Funds Managed by Fund Manager in Singapore) Regulations 2010 (GN No. S 6/2010) are amended by the following:

• Amendments made to Regulation 2: ‘Definitions’, where the definitions of ‘commodity derivatives’, ‘designated investments’, ‘emission derivatives’, ‘specified income’ are amended and new definitions of ‘financial derivatives’ and ‘freight derivatives’ have been inserted.
• Introduction of a new First Schedule, comprising:

Part A – Designated Investments in relation to income derived before 17 February 2012

Part B – Specified income in relation to income derived before 17 February 2012

• Introduction of a new Second Schedule, comprising:

Part A – Designated investments in relation to income derived on or after 17 February 2012

Part B – Specified income in relation to income derived on or after 17 February 2012.

Source: e-Gazette