Clause 13

by deleting paragraph (a) of subsection (2) and substituting the following paragraph:“(a)expenses in establishing, maintaining or otherwise participating in —

a trade fair, trade exhibition, trade mission or trade promotion activity held or conducted outside Singapore; or

an approved trade fair or trade exhibition held in Singapore;”;

by inserting, immediately after subsection (2), the following subsection:“(2A) For the purposes of subsection (1), the firm or company need not be an approved firm or approved company to be allowed a deduction under that subsection in respect of expenses referred to in subsection (2)(a) which are incurred at any time from 1st April 2012 to 31st March 2016 (both dates inclusive) for the primary purpose of promoting the trading of goods or the provision of services, provided that the aggregate of —

the expenses for which the deduction is so allowed; and

the expenditure for which a deduction is allowed to the firm or company under section 14K(1A),does not exceed $100,000 for each year of assessment.”;

by inserting, immediately after the words “subsection (1)” in subsection (3), the words “, other than expenses that are the subject of a claim for deduction under subsection (2A)”;

by deleting paragraph (b) of subsection (4) and substituting the following paragraph:“(b)travelling, accommodation and subsistence expenses or allowances for —

more than 2 employees taking part in the trade fair, trade exhibition, trade mission or trade promotion activity, being one held or conducted overseas; or

more than the approved number of employees taking part in the approved marketing project;”; and

by deleting the full-stop at the end of paragraph (c) of subsection (4) and substituting a semi-colon, and by inserting immediately thereafter the following paragraphs:“(d)any expenses incurred during the basis period for a year of assessment by a firm or company if —

any part of its income for that year of assessment is exempt or partly exempt from tax under section 13A, 13F, 13S or 13V;

any part of its income for that year of assessment is subject to tax at a concessionary rate of tax under section 43C, 43E, 43G, 43J, 43P, 43Q, 43W, 43ZA, 43ZB, 43ZC or 43ZF or the regulations made thereunder; or

it is given tax relief under Part II, III or IIIB of the Economic Expansion Incentives (Relief from Income Tax) Act (Cap. 86) for that year of assessment, or is given an investment allowance under Part X of that Act for that year of assessment;

any expenses to the extent they are or are to be subsidised by a grant or subsidy from the Government or a statutory board.”.