Singapore legislation
Section 94
of Economic Expansion Incentives (Relief from Income Tax) Act
Section 94
Application for and issue of certificate to technology company
(1)
Any company incorporated in Singapore which is desirous of using in Singapore a new technology in relation to a product, process or service may make an application in the prescribed form to the Minister to be approved as a technology company.
(2)
Where the Minister is satisfied that the technology, if introduced in Singapore, would promote or enhance the economic or technological development of Singapore, he may approve the company as a technology company and issue a certificate to that company subject to such conditions as he thinks fit.
(3)
Every certificate issued under this section shall specify a percentage, not exceeding 50%, of such amount of the paid-up capital of the technology company as is held by any eligible holding company for the purpose of determining the deduction under section 95.