There are various tax incentives available to taxpayers involved in specified activities or industries identified as being beneficial to Singapore’s economic development.

Tax incentive applications are typically subject to an approval process during which the administering agency evaluates the applicant’s business plans in detail. Successful applicants are required to satisfy rigorous requirements and are expected to make significant economic commitments in Singapore.

Generally, applicants are expected to carry out substantive, high value activities in Singapore, and will be required to commit to certain levels of local business spending and skilled employment.

Some factors that will be considered include the use of Singapore as a base from which to implement regional expansion strategies; introduction and anchoring of leading-edge skills, technology, and activities in Singapore; contributions to the growth of R&D and innovation capabilities; and potential spin-off to the rest of the economy.