Low Yen Ling on Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill
Support for companies to improve energy efficiency will be expanded, to include a tax allowance on investments in equipment that leads to verifiable reductions in greenhouse gas emissions. This is under a proposed enhancement to an existing scheme, whose validity period will also be extended from March 2021 to December 2026. Minister of State for Trade and Industry Low Yen Ling said this was in response to industry feedback. A Bill put up for debate in Parliament on Monday (Feb 14) would also allow the Trade and Industry Minister to assign to public bodies various functions and powers of the administration of tax incentives.
Support for companies to improve energy efficiency will be expanded, to include a tax allowance on investments in equipment that leads to verifiable reductions in greenhouse gas emissions. This is under a proposed enhancement to an existing scheme, whose validity period will also be extended from March 2021 to December 2026. Minister of State for Trade and Industry Low Yen Ling said this was in response to industry feedback. A Bill put up for debate in Parliament on Monday (Feb 14) would also allow the Trade and Industry Minister to assign to public bodies various functions and powers of the administration of tax incentives.
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