There are various types of tax incentives available to companies and these are provided in the Singapore Income Tax Act (ITA) and Economic Expansion Incentives Act (EEIA). Some of the tax incentives available are listed in the table below.
Governing legislation | Types of incentives | Where to apply |
---|---|---|
ITA/S13F | Approved International Shipping Enterprise | MPA www.mpa.gov.sg |
ITA/S13H | Approved Venture Company | EDB www.edb.gov.sg |
ITA/S14B | Further deduction of expenses relating to Approved Trade Fairs, Trade Exhibitions, Trade Missions or to maintain overseas Trade Office | IE Singapore www.enterprisesg.gov.sg |
ITA/S14E | Further deduction of expenses on Research and Development Project | EDB www.edb.gov.sg |
ITA/S14O | Tax deduction of special reserves for catastrophic risks of approved general insurers | MAS www.mas.gov.sg |
ITA/S19C | Writing down allowance for cost sharing agreement | EDB www.edb.gov.sg |
ITA/S43(9) | Concessionary rate of tax for income of life insurance companies apportioned to policyholders | – |
ITA/S43C | Concessionary rate of tax for approved offshore general insurance companies | MAS www.mas.gov.sg |
ITA/S43C | Concessionary rate of tax for approved offshore life insurance companies | MAS www.mas.gov.sg |
ITA/S43C | Concessionary rate of tax for approved offshore composite insurance companies | MAS www.mas.gov.sg |
ITA/S43C | Exemption of tax for approved marine hull and liability insurer (onshore and offshore business) | MAS www.mas.gov.sg |
ITA/S43C | Exemption of tax for approved offshore captive insurance companies | MAS www.mas.gov.sg |
ITA/S43C | Exemption of tax for approved insurer underwriting offshore qualifying specialised insurance risk | MAS www.mas.gov.sg |
ITA/S43E | Concessionary rate of tax for Approved Operational Headquarters (OHQs) | EDB www.edb.gov.sg |
ITA/S43G | Concessionary rate of tax for Approved Finance and Treasury Centre | EDB www.edb.gov.sg |
ITA/S43Q | Concessionary rate of tax for Financial Sector Incentive Companies | MAS www.mas.gov.sg |
ITA/S43P | Approved Global Trading Company | IE Singapore www.iesingapore.gov.sg |
EEIA/ Part II | Pioneer Industries | EDB www.edb.gov.sg |
EEIA/ Part III | Pioneer Service Companies | EDB www.edb.gov.sg |
EEIA/Part IIIB | Approved Shipping Logistics Enterprise | MPA www.mpa.gov.sg |
EEIA/ Part IIIB | Development & Expansion Incentive | EDB www.edb.gov.sg |
EEIA/Part X | Investment Allowances | EDB www.edb.gov.sg |
EEIA/Part XIIIB | Overseas Enterprise Incentive | IE Singapore www.iesingapore.gov.sg |
EEIA/Part VIA | Export Service Company | EDB www.edb.gov.sg |
Leave A Comment