productivity of the businesses where they are deployed to. Require businesses to employ at least three local employees for the last three months of the relevant period in respect of which a cash payout election is made. This is in line with the principle that PIC cash payouts are to be made to businesses with active business operations. This change takes effect from YA 2016. Extend Section 14A tax deductions for To encourage businesses to protect their intellectual Section 14A for protecting intellectual property property, the 100% tax deduction for qualifying intellectual property registration costs will be extended for [Clause 19] another five years till YA 2020. Extend Research & Development To continue encouraging R&D and to give certainty to Sections 14D, 14DA, (“R&D”) tax measures businesses, the following will be extended for ten years till 14E, 19 and 19A YA 2025: deduction for R&D expenditure (including capital [Clauses 20, 21, 22, 30 expenditure on the acquisition of equipment) on and 31] R&D undertaken in Singapore but not related to an existing trade or business; and additional 50% tax deduction on qualifying R&D expenditure. To attract businesses to conduct large R&D projects in Singapore, the window period for the Singapore Economic Development Board to approve a further tax deduction on
productivity of the businesses where they are deployed to. Require businesses to employ at least three local employees for the last three months of the relevant period in respect of which a cash payout election is made. This is in line with the principle that PIC cash payouts are to be made to businesses with active business operations. This change takes effect from YA 2016. Extend Section 14A tax deductions for for protecting intellectual property To encourage businesses to protect their intellectual property, the 100% tax deduction for qualifying intellectual property registration costs will be extended for another five years till YA 2020. Section 14A [Clause 19] Extend Research & Development (“R&D”) tax measures To continue encouraging R&D and to give certainty to businesses, the following will be extended for ten years till YA 2025: deduction for R&D expenditure (including capital expenditure on the acquisition of equipment) on R&D undertaken in Singapore but not related to an existing trade or business; and additional 50% tax deduction on qualifying R&D expenditure. To attract businesses to conduct large R&D projects in Singapore, the window period for the Singapore Economic Development Board to approve a further tax deduction on Sections 14D, 14DA, 14E, 19 and 19A [Clauses 20, 21, 22, 30 and 31]