s 43B Special rate of tax for non‑resident shipowner or charterer or air transport undertaking
43B. Despite section 43, where the tax authority of a foreign country taxes the profits derived by a person resident in Singapore from carrying on the business of a shipowner or charterer or of air transport at a rate which exceeds the rate prescribed by section 43, the Minister may direct that the profits derived in Singapore from the carrying on of such business by a non‑resident person who is resident in that foreign country be charged to tax at a rate similar to that charged by the tax authority of that foreign country.