The SITA expressly provides that the relevant income of an eligible PLAT and the underlying holding company of an eligible PLAT is tax exempted. Any exempted income of a PLAT which a beneficiary receives from the PLAT will also similarly be exempted from tax.
It would appear that from the definition of relevant income in SITA, s 13N(3) that such income is divided into two categories:
- Ìý
•ÌýÌýÌýÌý Singapore-sourced investment income, and
- Ìý
•ÌýÌýÌýÌý foreign-sourced income.
The exempted categories of Singapore-sourced investment income covers any income that is
- Ìý
•ÌýÌýÌýÌý referred to in
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