2 May 2019 13:35
AVATION PLC
("Avation" or "the Company")
RENEWAL OF SINGAPORE TAX INCENTIVE
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Avation PLC (LSE: AVAP), the commercial passenger aircraft leasing company, announces that its main operating subsidiaries have been granted a further 5-year tax incentive in Singapore under the Aircraft Leasing Scheme.
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Avation's headquarters are in Singapore and the majority of the group's operations will benefit from this tax incentive, subject to meeting applicable terms and conditions.
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The Aircraft Leasing Scheme provides for a concessionary tax rate on income derived from aircraft and aircraft engine leasing and exemption from withholding tax on qualifying loans. The 5-year renewal period for the incentive commenced on 17 April 2019.
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Avation's Executive Chairman, Jeff Chatfield, said: "We are pleased to have successfully renewed our membership of Singapore's Aircraft Leasing Scheme which provides substantial tax benefits to the group."
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-ENDS-
Enquiries:
Avation Jeff Chatfield, Executive Chairman | Â | T: +65 6252 2077 |
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Avation welcomes shareholder questions and comments and advises the email address is: investor@avation.netÂ
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Notes to Editors:
Avation PLC is an aircraft leasing company, headquartered in Singapore, owning and managing a fleet of commercial passenger aircraft which it leases to international airlines across the globe.
More information on Avation is available at www.avation.net.
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