Singapore legislation
Section 68
of Economic Expansion Incentives (Relief from Income Tax) Act
Section 68
Investment allowance
(1)
The investment allowance granted under section 67 shall be a specified percentage, not exceeding 100% of the amount (which may be subject to a specified maximum) of the fixed capital expenditure incurred on each item specified by the Minister under subsection (2) on an approved project if the fixed capital expenditure is incurred —
within such period (referred to in this Act as the qualifying period), not exceeding 5 years, commencing from the investment day as the Minister may determine; and
in the case of a project under section 67(1)(g), within such period (hereinafter referred to as the qualifying period), not exceeding 10 years, commencing from the investment day as the Minister may determine.
(2)
The Minister —
shall specify the items of the fixed capital expenditure for the purposes of subsection (1); and
may specify the maximum amount of the investment allowance granted for the approved project.
(3)
Where any question arises as to whether a particular item qualifies as one of the items under subsection (2)(a), it shall be determined by the Minister whose decision shall be final.
(4)
In subsection (1), “specified” means specified by the Minister.