Singapore's Parliament debates amendments to tax incentives to attract foreign investments in tech and green sectors.

In a Parliament session today, Singapore's MPs discussed amendments to tax incentives aimed at attracting foreign investments. The Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill introduces a 15% concessionary tax rate and extends incentives for up to 40 years to support companies in advanced manufacturing, AI, and green technology. MPs sought clarifications on how the new framework would affect current incentives, benefits for small businesses, and alignment with international tax treaties. The amendments aim to make Singapore more competitive and support diverse business growth.

November 11, 2024
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