Chee Hong Tat on Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill

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Chee Hong Tat on Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill

(Updated: )

Companies can continue to enjoy tax breaks from the Government, in the event of corporate restructuring. This applies to the Pioneer Industry and Pioneer Service awards, and Development and Expansion award. Senior Minister of State for Trade and Industry Chee Hong Tat said this in Parliament on Thursday (Mar 26) during the second reading of the Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill. “Such award granted to the transferee will be treated as a continuation of the award granted to the transferer,” he said.

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