Section 43
Capital expenditure investment allowance
of Economic Expansion Incentives (Relief from Income Tax) Act 1967
(1)
Where a company proposes to carry out a project —
for the manufacture or increased manufacture of any product;
for the provision of specialised engineering or technical services;
for research and development;
for construction operations;
for reducing the consumption of water;
in relation to any qualifying activity as defined in section 16;
for the promotion of the tourist industry (other than a hotel) in Singapore;
for the operation of any space satellite;
for the provision of maintenance, repair and overhaul services to any aircraft;
for improving energy efficiency; or
for the construction and operation by the company of any submarine cable system with one or more landing stations in Singapore, and any such landing station,the company may apply in the prescribed form to the Minister for the approval of an investment allowance in respect of the fixed capital expenditure for the project.
(2)
Where the Minister considers it expedient, having regard to the economic, technical and other merits of the project, the Minister may approve the project and issue the company with a certificate which qualifies the company for an investment allowance as stipulated in the certificate in respect of the fixed capital expenditure for the approved project subject to such terms and conditions as the Minister thinks fit.
(3)
For the purposes of subsection (2), the Minister may approve any investment allowance in respect of the fixed capital expenditure to be incurred on any productive equipment to be used outside Singapore for any project under subsection (1)(h), (i) or (k).
(4)
Every certificate issued under this section must specify a date as the investment day from which the company is entitled to an investment allowance under this Part.
(5)
The Minister may upon the application of a company, amend its certificate by substituting for the investment day specified therein such earlier or later date as the Minister thinks fit and thereupon the provisions of this Part have effect as if the date so substituted were the investment day in relation to that certificate.
(6)
Approval under this section may only be granted during the following periods to a company in respect of any project under subsection (1)(i):
between 9 September 2004 and 8 September 2009 (both dates inclusive); and
between 1 April 2010 and 31 March 2015 (both dates inclusive).
(7)
Approval under this section may only be granted during the period between 1 April 2010 and 31 March 2021 (both dates inclusive) to any company in respect of any project under subsection (1)(j).
(8)
Approval under this section may not be granted to any company in respect of any project under subsection (1)(a) to (h) on or after 1 January 2024.
(9)
Approval under this section may only be granted during the period between 20 February 2018 and 31 December 2023 (both dates inclusive) to a company in respect of any fixed capital expenditure incurred by the company on or after 20 February 2018 on a submarine cable system or a landing station mentioned in subsection (1)(k), for a project under that subsection.[67