Clause 8

by deleting subsections (1), (2) and (2A) and substituting the following subsections:“(1) Subject to this section, where the Comptroller is satisfied that the expenses specified in subsection (2) have been incurred by an approved company or firm resident in or having a permanent establishment in Singapore for the primary purpose of —

promoting the trading of goods or the provision of services; or

the provision of services in connection with the use of any right under a master franchise or master intellectual property licence where the company or firm is the holder of the franchise or licence,there shall be allowed a further deduction of the amount of such expenses in addition to the amount allowed under section 14.(2) The expenses referred to in subsection (1) are —

expenses in establishing, maintaining or otherwise participating in an approved trade fair, trade exhibition, trade mission or trade promotion activity;

expenses in maintaining an approved overseas trade office; or

market development expenditure for the carrying out of any approved marketing project.”;

by renumbering subsection (2B) as subsection (2A); (c)by deleting paragraph (b) of subsection (3) and substituting the following paragraph:“(b)travelling, accommodation and subsistence expenses or allowances for more than the approved number of employees taking part in the approved trade fair, trade exhibition, trade mission, trade promotion activity or the approved marketing project;”;

by deleting the words “3 employees” in subsection (3)(d)(ii) and substituting the words “the approved number of employees”;

by deleting the words “first 2 years of” in subsection (3)(d)(iv) and substituting the words “approved number of years from”;

by deleting the words “section 14C, 14E or 14J” in subsections (3A), (3B)(b) and (3E)(a) and substituting in each case the words ``section 14E, 14J or 14L”; and (g)by inserting, immediately after the definition of “approved” in subsection (4), the following definition: “ “market development expenditure” means —

approved expenses directly attributable to the carrying out of market research or obtaining of market information, including any feasibility study;

expenses in respect of advertisements placed in approved media;

expenses incurred on approved promotion campaigns; or

approved expenses incurred in the design of packaging, or in the certification of goods or services where such certification is carried out by an approved person;”.