Mark Lee on Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill
The amendments aim to secure Singapore's attractiveness of providing flexibility of choice in its incentive regime to cater to companies in different stages of growth and support sustainable business development, said NMP Mark Lee. By providing flexible and targeted tax incentives, Singapore can continue to attract diverse businesses that contribute to its economic dynamism, he said in Parliament on Monday (Nov 11). He stressed the need for clear guidance on the process of application for various incentive rates. He suggested periodic reviews of the timelines against the evolving economic conditions to give companies greater certainty when planning investments in sectors that are not traditionally supported by investment allowances.
The amendments aim to secure Singapore's attractiveness of providing flexibility of choice in its incentive regime to cater to companies in different stages of growth and support sustainable business development, said NMP Mark Lee. By providing flexible and targeted tax incentives, Singapore can continue to attract diverse businesses that contribute to its economic dynamism, he said in Parliament on Monday (Nov 11). He stressed the need for clear guidance on the process of application for various incentive rates. He suggested periodic reviews of the timelines against the evolving economic conditions to give companies greater certainty when planning investments in sectors that are not traditionally supported by investment allowances.
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