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Release of subsidiary legislation for Refundable Investment Credits
This alert provides insights into the key features of the subsidiary legislation.
On 1 September 2025, the Ministry of Finance (MOF) officially released the Income Tax (Refundable Investment Credits) Regulations 2025, marking a key milestone in the operationalisation of the RIC scheme. The subsidiary legislation builds upon the framework established under Section 93B of the Income Tax Act 1947 and complements earlier factsheets issued by the Economic Development Board (EDB) and Enterprise Singapore (ESG).
This alert provides insights into the key features of the subsidiary legislation, including eligibility criteria, assessment factors for support rates and cash payout schedule under the cash election option. It also outlines what these developments mean for businesses evaluating the relevance of the RIC scheme to their investment plans.