BOC Aviation has successfully renewed its Aircraft Leasing Scheme (ALS) for a five-year period to June 2022. The company’s current ALS will expire in June 2017.
The ALS is an incentive scheme under which income derived from aircraft leasing operations is taxed at a concessionary tax rate, rather than the prevailing corporate tax rate in Singapore of 17%. Under the ALS, BOC Aviation is also eligible to apply for certain additional tax-related exemptions.
“We are pleased that the ALS has been extended for a further five years. This provides enhanced certainty to our stakeholders and investors and extends Singapore’s competitive positioning as a hub for the aircraft operating leasing business,” said Robert Martin, Managing Director and Chief Executive Officer of BOC Aviation.
“Since our inception here in 1993, our growth continues to reflect a successful collaboration with the Singapore government, in particular the Economic Development Board. The forward-thinking policies of the government have provided us a strong base from which to grow our fleet and operations into one of the world’s largest aircraft operating lessors, and the largest listed in Asia,” Martin added.