Clause 12

by deleting the words “a manufacturer” in the first lines of subsection (1)(a) and (b) and substituting in each case the words “an approved manufacturer”;

by deleting the word “or” at the end of subsection (1)(b);

by deleting the words “a company” in the first line of subsection (1)(c) and substituting the words “an approved firm or company”;

by deleting the comma at the end of paragraph (c) of subsection (1) and substituting a semi-colon, and by inserting immediately thereafter the following paragraphs:“(d)on or after 1st April 1993 by an approved firm or company resident or having a permanent establishment in Singapore and carrying on in Singapore the business of providing services in establishing, maintaining or otherwise participating in an approved local or overseas trade fair or exhibition, trade mission or trade promotion activity for the primary purpose of promoting the provision of services overseas; or

on or after 1st April 1993 by an approved firm or company resident in Singapore and carrying on in Singapore the business of providing services in maintaining an approved overseas trade office established exclusively for the purpose of promoting the provision of services overseas,”;

by inserting, immediately after subsection (2), the following subsections:“(2A) In respect of the deduction allowable to a company or a firm for expenses incurred in establishing, maintaining or otherwise participating in an approved local trade fair or exhibition under subsection (1)(d), if the gross revenue of the company or firm in the basis period for any year of assessment from the provision of services to persons not resident in Singapore and having no permanent establishment in Singapore or to permanent establishments outside Singapore of persons resident in Singapore or elsewhere does not exceed 50% of its total gross revenue in that basis period from the provision of services, the amount of deduction to be allowed to the company or firm shall be determined in accordance with the formula where Ais the amount of expenses incurred;Bis the gross revenue in the basis period for the year of assessment from the provision of services to persons not resident in Singapore and having no permanent establishment in Singapore or to permanent establishments outside Singapore of persons resident in Singapore or elsewhere; andCis the total gross revenue in the basis period for the year of assessment from the provision of services.(2B) The Minister may specify the maximum amount of expenditure (or any item thereof) to be allowed under subsection (1).”; and

by deleting the word “company” in subsection (3)(d)(v) and substituting the words “firm or company”.