ANNOUNCEMENT 20 Jan 2015

On 20 January 2015, the Singapore Ministry of Finance granted Rotary Engineering Limited income tax exemption on foreign dividends.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Singapore Statutes Online, Income Tax (Exemption Of Foreign Income) (No. 2) Order 2015, 20 January 2015. Available At: Https://Sso.Agc.Gov.Sg/Sl/Ita1947-S27-2015?Docdate=20171027&Validdate=20181102&Transactiondate=20181102

Rotary Engineering. Available at: www.rotaryeng.com.sg/

Inception date: 01 Dec 2014 | Removal date: 31 Dec 2019
Still in force

Tax or social insurance relief

On 20 January 2015, the Singapore Ministry of Finance granted Rotary Engineering Limited income tax exemption on foreign dividends received in Singapore from the period of December 2014 to December 2019.

The Singapore corporate income tax rate is 17%.

The total value of the dividends is USD 60 million, with the value of the tax relief at USD 10.2 million.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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