Singapore legislation
Section 19K
of Economic Expansion Incentives (Relief from Income Tax) Act
Section 19K
Tax relief period of development and expansion company
(1)
The tax relief period of a development and expansion company shall commence on its commencement day and shall continue for such period not exceeding 10 years as the Minister may determine.
(2)
The Minister may, if he is satisfied that it is expedient in the public interest to do so and subject to such terms and conditions as he may impose, extend the tax relief period of a development and expansion company for such further period or periods, not exceeding 5 years at any one time, as he may determine, except that the tax relief period of the company shall not in the aggregate exceed 20 years.
(3)
Where a development and expansion company has been granted tax relief under Part IIIAin respect of any qualifying activity specified in the certificate issued under section 19J(2), the Minister shall, in extending the tax relief period of the company under subsection (2), take into account the tax relief period of the company under that Part.