Clause 8

by deleting the words “material or” in subsection (2)(aa)(ii);

by inserting, immediately after paragraph (aa) of subsection (2), the following paragraph:“(ab)expenses incurred on or after 17 February 2021 —

in establishing, maintaining or otherwise participating in an approved trade fair or trade exhibition held or conducted (whether wholly or partly) by means of teleconference, videoconferencing or any other electronic means of communications; or

for the transportation of any sample to any potential client outside of Singapore, following the potential client’s attendance at or participation in the approved trade fair or trade exhibition;”;

by deleting the words “31 December 2025” in subsection (2A) and substituting the words “16 February 2021”;

by inserting, immediately after subsection (2A), the following subsections:“(2AA) For the purposes of subsection (1) and subject to subsection (2B), the firm or company need not be an approved firm or approved company to be allowed a deduction under subsection (1) in respect of any of the following expenses incurred during the period between 17 February 2021 and 31 December 2025 (both dates inclusive) for the primary purpose of promoting the trading of goods or the provision of services:

such expenses in subsection (2)(a) as are prescribed by rules made under section 7;

such expenses in subsection (2)(ab) as are prescribed by rules made under section 7.(2AB) Despite subsection (1) but subject to subsection (2B), where the Comptroller is satisfied that any expenses mentioned in subsection (2AC) have been incurred by a firm or company resident in or having a permanent establishment in Singapore during the period between 17 February 2021 and 31 December 2025 (both dates inclusive) for the primary purpose of promoting the trading of goods or the provision of services, there is to be allowed a further deduction of the amount of such expenses in addition to the amount allowed under section 14.(2AC) The expenses mentioned in subsection (2AB) are the following types of expenses that fall within descriptions prescribed by rules made under section 7, to the extent that such expenses do not fall within subsection (1):

expenses incurred in the design of packaging;

expenses incurred in obtaining any approved certification of goods and services;

expenses incurred in any advertisement placed in any media or on any promotion campaign carried out overseas.(2AD) Rules made for the purposes of subsections (2AA) and (2AC) may be made to take effect from (and including) 17 February 2021.”; and

by deleting the words “subsection (2A)” in subsections (2B) and (3) and substituting in each case the words “subsections (2A), (2AA) and (2AB) (whichever is applicable)”.