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Rates for computation of RICs for qualifying expenditure

Income Tax (Refundable Investment Credits) Regulations 2025

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The rate for computing the RICs for each of the following types of qualifying expenditure incurred by a company in carrying out one or more qualifying activities is 10%, 30% or 50% of the amount of the qualifying expenditure:(a)any capital expenditure incurred on the provision of a plant, property or equipment;(b)the following manpower costs:(i)any wages, salaries and bonuses paid to the company’s employees who are located in Singapore;(ii)any sums contributed to the Central Provident Fund or other pension funds in respect of those employees;(iii)any cost incurred to provide any other employment benefits for those employees;(c)any expenditure incurred to provide training for the company’s employees, including —(i)any course fees paid to an external training provider;(ii)any salaries or allowances paid to an external training provider, and the reimbursement of any travelling or transportation expenses incurred by an external training provider, to conduct training for the employees; and(iii)any allowances given to the employees for attending training and any travelling or transportation expenses incurred for the employees to attend training;(d)any cost incurred (including as part of the cost of any goods or services) for professional services, consultancy services and technical testing services;(e)any cost relating to intangible asset acquisition, cost‑sharing agreement for research and development or innovation activity, licensing fees and royalty payments;(f)any cost of materials and consumables which, upon being used, are consumed or transformed in such a manner that they are no longer useable in their original form;(g)any freight forwarding and logistics cost for the transportation of goods, the management of such transportation and associated supply chain and logistics process flow;(h)any financing cost, including interest payments and other related charges.

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