Singapore Gazettes Law Amending Economic Expansion Incentives Act

The Singaporean Official Gazette Dec. 29, 2023, published Act No. 39, amending the Economic Expansion Incentives Act to provide relief from income taxation. The law includes measures: 1) defining “approved activity” and “approved activity certificate;" 2) extending the end date to Jan. 1, 2029, from Jan. 1, 2024, for the approval of incentive regimes; 3) replacing the existing royalty regime with an approved royalty incentive (ARI) regime, for the approval of activities eligible for tax relief on royalties, technical assistance fees, and contributions to R&D costs; 4) extending the end date to Dec. 31, 2028, from Dec. 31, 2023, for ...