• Service: Tax, Global Mobility Services, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 2/26/2014

Singapore - Analysis of tax provisions in 2014 budget 

February 26:  Singapore’s 2014 budget statement (presented in Parliament on 21 February 2014) reflects the following tax proposals:
  • Productivity and innovation credit scheme (PIC+ scheme)
  • Extending research and development (R&D) tax incentives
  • Write downs of allowances on intellectual property rights
  • Deductions for qualifying intellectual property
  • Registration costs
  • Land intensification allowance (LIA) scheme
  • Waiver of withholding tax on payments to Singapore branches
  • Extending and refining tax incentive scheme for qualifying funds / recovery of GST for qualifying funds
  • Refining the designated unit trust (DUT) scheme
  • Treating Basel III additional Tier 1 instruments as debt for tax purposes
  • Scheme for listed infrastructure registered business trusts (RBTs)
  • Tax concessions for real estate investment trusts (REITs)

Read more on the 2014 budget webpage prepared by the KPMG member in Singapore.

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