Singapore legislation

Clause 10

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

Clause 10

Amendment of section 97ZA

Section 97ZA of the principal Act is amended by deleting the definition of “qualifying equipment” and substituting the following definition:“ “qualifying equipment”, in relation to a company that is issued an approval letter for an approved project, means —

(a)

for a project that is approved under section 97ZB(2) before 21 February 2017 —

(i)

any new productive equipment; or

(ii)

any second-hand productive equipment (other than productive equipment sold and repurchased by the company),to be provided to and used by a project company solely for manufacturing any product for the firstmentioned company or providing specialised engineering or technical services on behalf of or to the firstmentioned company under the approved project; and

(b)

for a project that is approved under section 97ZB(2) on or after 21 February 2017 —

(i)

any new productive equipment; or

(ii)

any second-hand productive equipment (other than productive equipment sold and repurchased by the company),to be provided to and used by a project company solely or primarily for manufacturing any product for the firstmentioned company or providing specialised engineering or technical services on behalf of or to the firstmentioned company under the approved project;”.

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