Singapore legislation

Clause 3

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

Clause 3

Amendment of section 22

In the principal Act, in section 22, replace subsections (6) and (7) with —“(6) An extension of the tax relief period of a relevant development and expansion company for a qualifying activity under subsection (4) may only be granted during the period between 18 February 2008 and 31 December 2028 (both dates inclusive).(7) In subsections (4), (5) and (6), “relevant development and expansion company” means a development and expansion company that —

(a)

engages in any qualifying activity and oversees, manages or controls the conduct of the activity on a regional or global basis; or

(b)

engages in any qualifying activity described in paragraph (b) or (c) of the definition of “qualifying activity” in section 20 (except one to which this paragraph does not apply pursuant to regulations made for the purpose of subsection (7A)).(7A) The Minister may prescribe any qualifying activity under paragraph (b) or (c) of the definition of “qualifying activity” in section 20, as a qualifying activity to which subsection (7)(b) does not apply.”.

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