Singapore Parliament Considers Bill to Amend Economic Expansion Incentives Act

The Singaporean Parliament Oct. 15 accepted for consideration Bill No. 41/2024, to amend the Economic Expansion Incentives Act. The bill includes measures to: 1) allow a 15 percent concessionary base tax rate on qualifying income from Feb. 17, for qualifying income derived from Jan. 1 by a company that received a development and expansion (DEI) incentive; 2) increase the 15 percent base rate by at least 0.5 percent points for specified development and expansion companies; 3) enable tax relief periods to be extended only between Feb. 18, 2008, and Dec. 31, 2028; and 4) amend the definition of “fixed capital ...