Singapore legislation
Section 97I
of Economic Expansion Incentives (Relief from Income Tax) Act
Section 97I
Application for and issue of certificate to overseas enterprise
(1)
Any company, incorporated and resident in Singapore, which is desirous of expanding its business by investing in an overseas company or carrying out any qualifying activity may make an application to the Minister to be approved as an overseas enterprise in such form and with such particulars as may be prescribed.
(2)
Where the Minister is satisfied in respect of any application under subsection (1) that the investment in the overseas company or qualifying activity would promote or enhance the economic or technological development of Singapore, he may approve the company as an overseas enterprise and issue a certificate to the company subject to such conditions as he may impose.
(3)
Every certificate issued to an overseas enterprise under this section shall specify —
a date as the commencement day from which the company shall be entitled to tax relief under this Part; and
the qualifying investment in an overseas company or qualifying activity.
(4)
The Minister may, in his discretion, upon the application of an overseas enterprise, amend its certificate by substituting for the commencement day specified therein such earlier or later date as he thinks fit and thereupon the provisions of this Part shall have effect as if the date so substituted were the commencement day in relation to that certificate.