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ExpatSingapore Message Board 22 November 2017, 13:22:12 PM *
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Author Topic: Tax incentives  (Read 4487 times)
Nestor
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« on: 01 November 2000, 20:11:00 PM »
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Hi everybody,

Does anyone know about how difficult it is for a company to be granted "pioneer service status" in Singapore? This will exempt the companies from tax of up to 10 years.

I have checked out the following but I havenĀ“t found any case studies anywhere.
_________________________________________
Incentives to Attract Specific Investments  
(c) Pioneer Service Company Incentive

The pioneer service company incentive is similar to the pioneer industry incentive. Qualifying activities for this incentive include skills-intensive activities, such as (a) engineering or technical services; (b) computer-based information and other computer related services; (c) activities and services related to the provision of entertainment, leisure and recreation; (d) services relating to the provision of education; (e) medical services; and (f) venture capital fund activity.

I would appreciate all info on this subject.

Cheers,

Nestor

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HNL
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« Reply #1 on: 04 November 2000, 6:08:00 AM »
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Short answer--Very difficult for two reasons.

The government is phasing out Pioneer type deals with NO taxes, moving towards other incentives with LOWER taxes.

The government tends to grant such incentives to companies that it really wants to come to Singapore--typically well-known companies with transferable technologies that is going to invest a ton of money.

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easy
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« Reply #2 on: 11 November 2000, 12:35:00 PM »
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Forget about reading the ITA Chapter 134.  It is not all that difficult to be granted Pioneer status.  If your company is of a substantial size, it helps.  Get the Big5 firms to help you on it if you think you have a viable product/service.

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