Singapore legislation

Clause 6

of Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill

Clause 6

Amendment of section 69

Section 69 of the principal Act is amended —

(a)

by inserting, immediately after subsection (1), the following subsection:“(1A) Notwithstanding subsection (1), no investment allowance shall be given to a company for an approved project from which relevant income of the company is derived.”; and

(b)

by inserting, immediately after subsection (4), the following subsection:“(4A) Notwithstanding subsections (1) to (4), where a company has incurred, on or after 1st January 1996, fixed capital expenditure for a project approved under section 67(1)(e), the Minister may, if he is satisfied that it is expedient in the public interest to do so, direct that an investment allowance be given to the company for such expenditure, and such investment allowance shall be credited into a normal investment allowance account.”.

Read in full context — Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill →