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Refundable Investment Credit: factsheets by the EDB and Enterprise SG
Singapore incentives update on Refundable Investment Credit: factsheets by the EDB and Enterprise SG.
Following the gazette of the Income Tax (Amendment) Bill 2024 (Amendment Bill), the Singapore Economic Development Board (EDB) and Enterprise Singapore (Enterprise SG) has each released a detailed factsheet outlining the scheme's qualifying activities, assessment criteria and application process.The contents between the two factsheets are similar.
This information aims to assist businesses in evaluating the potential impact of the Refundable Investment Credit (RIC) on their future Singapore operations and determining its suitability for their investment plans.
The RIC will be awarded on an approval basis through the EDB and/or Enterprise SG, with a focus on supporting targeted investments that drive economic development.