Singapore legislation
Section 30
of Economic Expansion Incentives (Relief from Income Tax) Act
Section 30
Application for and issue of export enterprise certificate
(1)
The Minister may, on the application in the prescribed form of any company which is manufacturing or proposes to manufacture any export product or is engaged or proposes to engage in deep-sea fishery, either wholly or partly for export, approve the company as an export enterprise and issue to the company an export enterprise certificate subject to such conditions as he thinks fit.
(2)
Every export enterprise certificate issued under this section shall specify the accounting period in which it is expected that the export sales of the export product or export produce —
will be not less than 20% of the value of its total sales; and
will be not less than $100,000,and that accounting period shall be deemed to be the export year of the export enterprise for the purposes of this Part.
(3)
In this Part —
Definition
“export sales” means export sales (f.o.b.) whether made directly by the export enterprise or through an agent or independent contractor;
Definition
“f.o.b.” means free on board.