2 September 2014
On 29 August 2014, IRAS issued a second edition of the e-Tax Guide, “Pioneer Incentive: Capital Allowances upon Expiry of Tax Relief Period”.
This e-Tax Guide spells out the manner of apportioning capital allowances (CA) under section 10(3)(b) of the Economic Expansion Incentives (Relief from Income Tax) Act (EEIA) and is relevant to a pioneer enterprise or pioneer service company claiming CA upon expiry of its tax relief period during the basis period for any YA.
In the second edition, the Guide has been updated and re-written to reflect relevant changes made to the EEIA and ITA since the first edition of this guide was published on 15 July 1994. In particular,
- re-numbering sections 10(1A) and 10(1B) of the EEIA as sections 10(2) and 10(3) respectively; and
- including sections 18B, 18C, 19A and 19B of the ITA in sections 10(2) and 10(3) of the EEIA.
For full details, please refer the e-Tax Guide on the IRAS website.
Source: This article was extracted from the Inland Revenue Authority of Singapore’s (IRAS) website. Visit http://www.iras.gov.sg/ for more information.