Singapore legislation
Section 19B
of Economic Expansion Incentives (Relief from Income Tax) Act
Section 19B
Application for and issue of certificate to post-pioneer company
(1)
Any company which is —
a pioneer enterprise or a pioneer service company on or after 1st April 1986;
an export enterprise on or after 1st April 1986 and which had been a pioneer enterprise immediately before its tax relief period as an export enterprise,may apply in the prescribed form to the Minister for approval as a post-pioneer company.
(2)
The Minister may, if he considers it expedient in the public interest to do so, approve the application and issue the company with a certificate subject to such terms and conditions as he may impose.
(3)
Every certificate issued to a post-pioneer company under this section shall specify —
a date as the commencement day from which the company shall be entitled to tax relief under this Part;
its qualifying activities; and
the concessionary rate of tax to be levied for the purposes of this Part.
(4)
The Minister may, in his discretion, upon an application of a post-pioneer company, amend its certificate by substituting for the commencement day specified therein such other date as he thinks fit and thereupon the provisions of this Part shall have effect as if that date were the commencement day in relation to that certificate.
(5)
Notwithstanding section 43 of the Income Tax Act (Cap. 134), tax at such concessionary rate, not being less than 10% as the Minister may specify, shall be levied and paid for each year of assessment upon the income derived by a post-pioneer company during its tax relief period from its qualifying activities.