Singapore legislation
Section 66
of Economic Expansion Incentives (Relief from Income Tax) Act
Section 66
Interpretation of this Part
(1)
In this Part, unless the context otherwise requires —
Definition
“approved project” means a project approved by the Minister under section 67(2);
Definition
“chargeable concessionary income” means concessionary income after deducting expenses, donations, allowances or losses allowable under the Income Tax Act (Cap. 134) against the concessionary income;
Definition
“chargeable normal income” means normal income after deducting expenses, donations, allowances or losses allowable under the Income Tax Act against the normal income;
Definition
“concessionary income” means income subject to tax at the concessionary rate of tax under section 13H, 43A, 43C, 43D, 43E, 43F, 43G, 43H, 43I, 43J, 43K, 43L, 43M, 43N, 43O or 43Pof the Income Tax Act, as the case may be;
Definition
“concessionary investment allowance” means an investment allowance given to a company for an approved project from which the concessionary income of the company is derived;
Definition
“concessionary investment allowance account” means an account kept by a company for the purpose of calculating the amount of concessionary investment allowance granted under this Part;
Definition
“construction operations” means —
construction, alteration, repair, extension or demolition of buildings and structures;
construction, alteration, repair, extension or demolition of any works forming, or to form, part of any land; or
any operations which form an integral part of, or are preparatory to, or are for rendering complete the operations described in paragraph (a) or (b) including site clearance, earth-moving excavation, laying of foundations, site restoration, landscaping and the provision of drains and of roadways and other access works;
Definition
“fixed capital expenditure” means capital expenditure to be incurred on an approved project by a company on the following items that are used for carrying out the project —
factory building (excluding land) in Singapore and, in relation to any project under section 67(1)(b), (c), (d), (f) or (g), includes a building or structure specially designed for carrying out the project;
the acquisition of any know-how or patent rights; and
any new productive equipment (and, subject to the approval of the Minister, any secondhand productive equipment) to be used in Singapore and, in relation to any project under section 67(1)(h), includes any productive equipment to be used outside Singapore as approved under section 67(2A);
Definition
“investment day”, in relation to a company, means the date specified in its certificate as the date from which the company shall qualify for the investment allowance;
Definition
“normal income” means income subject to tax at the rate of tax under section 43(1)(a) of the Income Tax Act (Cap. 134);
Definition
“normal investment allowance” means an investment allowance given to a company for an approved project from which the normal income of the company is derived;
Definition
“normal investment allowance account” means an account kept by a company for the purpose of calculating the amount of normal investment allowance granted under this Part;
Definition
“relevant income”, in relation to a company, means any income which —
does not form part of the statutory income of the company or is exempt from tax under the provisions of this Act (other than this Part) or the Income Tax Act; or
is subject to tax at the concessionary rate under Part IIIAor IIIB;
Definition
“research and development” has the same meaning as in the Income Tax Act (Cap. 134);
Definition
“space satellite” means an apparatus placed in orbit relative to the earth for any economic, scientific or technological purpose.
(2)
For the purposes of this Part, fixed capital expenditure shall not be deemed to be incurred by a company unless —
in the case of any factory building or productive equipment to be constructed or installed on site, the expenditure is attributable to payment against work done in the construction of the building or the construction or installation of the productive equipment;
in the case of any productive equipment, other than that to which paragraph (a) or (c) applies, the company has received delivery of the equipment in Singapore;
in the case of any productive equipment to be used in relation to a project under section 67(1)(h), the company has received delivery of the equipment.