1. Pioneer industries and pioneer service companies – Qualifying companies are exempt from income tax for a period of 5 to 15 years. The incentives are administered by the EDB. See EEIA Part II and III. The EEIA is available on the Singapore Government Statutes Online website.

2. Development and expansion incentive – Any company engaged in any qualifying activity may apply to the Minister for approval as a development and expansion company. An approved development and expansion company is taxed at a concessionary rate, as low as 5%, on its “expansion income” from qualifying activities for a period not exceeding 10 years. This incentive is administered by the EDB.  See EEIA Part IIIB. The EEIA is available on the Singapore Government Statutes Online website.

3. Foreign loans for approved productive equipment – For foreign loan approved by the Minister of Finance on which interest may be paid free of tax or at a lower withholding tax rate than the normal 15% withholding tax. This incentive is administered by the EDB. See EEIA Pt VIII. The EEIA is available on the Singapore Government Statutes Online website.

4. Royalties, fees and development contributions – Withholding tax on royalties, fees and development contributions made to non-residents may be exempted wholly or partially on application to the Minister for Finance, if he is satisfied that it is in the public interest. This incentive is administered by the EDB. See EEIA Part IX. The EEIA is available on the Singapore Government Statutes Online website.

5. Investment allowance – An allowance of up to 100% of a specified capital expenditure on top of the normal capital allowance is granted to a company for expenditure incurred on an approved project. The allowance can only be set off against chargeable income derived from that project. This incentive is administered by the EDB. See EEIA Part X. The EEIA is available on the Singapore Government Statutes Online website.

6. Overseas enterprise incentive – Singapore-incorporated companies that are at least 50% owned by local investors are exempt from tax on income from approved overseas investments or activities for up to 10 years. As announced in Budget 2013, this incentive will be withdrawn from 25 February 2013. See EEIA Part XIIIB. The EEIA is available on the Singapore Government Statutes Online website.

7. Integrated investment allowance – As introduced in Budget 2012, companies may claim capital allowance on plant and equipment used overseas in connection with their trade or business, subject to meeting certain conditions. The additional allowance will be granted on top of capital allowance. This change will take effect from year of assessment 2013 for qualifying capital expenditures incurred on or after 17 February 2012. The scheme will run for 5 years and will be administered by the EDB. See EEIA Part XIIID. The EEIA is available on the Singapore Government Statutes Online website.