Approval and qualifying project expenditure
Supported activities include productive capacity, headquarters or centres of excellence, digital and professional services, commodity trading, R&D and decarbonisation projects. An award can cover a qualifying period of up to ten years. Depending on project type, expenditure may include capital assets, manpower, training, professional fees and other approved costs. Support can be up to 50% for each qualifying cost category, but the approving authority determines the actual award and conditions. Apply and clarify project eligibility with EDB or Enterprise Singapore.
Use, sharing and recovery of credits
Approved credits are recorded by IRAS after the authority verifies the claim. They may offset specified corporate and top-up tax liabilities, including related amounts, and unused credits are refunded within four years after the receipt conditions are met. Approved same-group nominated companies can share credits within notified limits. The election at claim stage between tax set-off and the prescribed cash schedule is irrevocable. Changes in nominated-company membership require prompt notifications; the page specifies seven days when a company leaves the group. Non-compliance with award conditions can lead to recovery of credits.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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