Refundable Investment Credit (RIC): What does it mean for you 

Get the latest updates on the RIC and the tax and accounting considerations for RIC relevant to your sector. 

The new Refundable Investment Credit (RIC) regime is a Global Anti-Base Erosion (GloBE) rules-compliant qualified refundable tax credit with the aim to encourage sizeable investments in Singapore.

Since it was first announced in Singapore Budget 2024, the draft legislation has been shared for public consultation and more recently on 9 September, the RIC legislation has been introduced in Parliament.

Companies looking to make significant investments may consider the RIC in their investment strategy, together with other potential tax and non-tax incentives and grants. Existing incentive recipients and prospective applicants should consider modelling the tax costs among other factors before engaging in discussions with the Economic Development Board (EDB) or Enterprise Singapore (EnterpriseSG).

We would like to invite you to an event where we share the latest updates on the RIC and the tax and accounting considerations for RIC relevant to your sector. Participants are encouraged to send in any questions they may have upon registration on the RSVP form.

This closed-door event is designed for senior tax and finance personnel in the diversified industrials and advanced manufacturing; technology, media and entertainment, and telecommunications (TMT) sectors based in Singapore.

As there are limited seats, you are strongly encouraged to register early. Successful registrations would be sent confirmations.

Discussion highlights

• How do you leverage the RIC for your business? How could the RIC fit into your overall incentive and investment strategy?
• Would the RIC or other incentives work better for you?
• How would the RIC be implemented in Singapore and be accounted for?

Speakers

• Desmond Tan, Singapore Tax Leader - Diversified Industries, Technology, Media & Entertainment and Telecommunications (TMT); Partner, Ernst & Young Solutions LLP
• Seng Chye Chia, Partner, Tax Services, Ernst & Young Solutions LLP
• Tracy Tham, Partner, Business Incentives Advisory, Ernst & Young Solutions LLP 
• Adele Liew, Partner, Financial Accounting Advisory Services, Ernst & Young LLP
• Sherilyn Chan, Associate Director, Business Incentives Advisory, EY Corporate Advisors Pte. Ltd.

Important note:

Seats are limited. Registration closes on 2 October 2024 or when seats are filled. A confirmation email will be sent to you if your registration is successful. EY Corporate Advisors Pte. Ltd. reserves the right to accept registration, cancel the event or amend the schedule and speakers due to circumstances beyond our control.

Please note that photographs, video and/or audio recordings (Materials) may be taken during the event. The EY member firms in Singapore may collect, use, reproduce, edit and/or share the Materials for its internal and external publications (which include magazines, newsletters and website), for publicity and marketing purposes, and/or for post-event communications with event attendees. All rights, title and interests in the Materials shall belong to EY.

This event is now over. For enquiries, please contact the organizer.

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