Economic Expansion Incentives (Relief from Income Tax) Act

(CHAPTER 86)

(Original Enactment: Act 36 of 1967)

REVISED EDITION 2001

(31st July 2001)

An Act relating to incentives for the establishment of pioneer industries and for economic expansion generally, by way of providing relief from income tax.

[15th December 1967]

PART I

PRELIMINARY

Short title

1. This Act may be cited as the Economic Expansion Incentives (Relief from Income Tax) Act.

Act to be construed as one with Income Tax Act

2. This Act shall, unless otherwise expressly provided for in this Act, be construed as one with the Income Tax Act (Cap. 134).

Interpretation

3. In this Act, unless the context otherwise requires —

“approved foreign loan” means a loan which is certified under section 57 to be an approved foreign loan;

“approved product” means a product declared under section 20 to be an approved product;

“approved royalties, fees or contributions” means royalties, technical assistance fees or contributions to research and development costs which have been certified under section 61 to be approved royalties, fees or contributions;

“company” means any company incorporated or registered in accordance with the provisions of any written law relating to companies;

“Comptroller” means the Comptroller of Income Tax appointed under the Income Tax Act (Cap. 134);

“expanding enterprise” means any company which has been approved by the Minister and to which an expansion certificate has been issued under section 21;

“expansion certificate” means an expansion certificate issued under section 21;

“expansion day”, in relation to an expanding enterprise, means the date specified in its expansion certificate under section 21(4) or (5);

“export enterprise” means any company which has been approved by the Minister and to which an export enterprise certificate has been issued under section 30;

“export enterprise certificate” means an export enterprise certificate issued under section 30;

“export produce” means the produce of deep-sea fisheries, including fresh or frozen fish, approved under section 29 as export produce;

“export product” means a product approved under section 29 as an export product;

“export year” means the year specified in the export enterprise certificate under section 30(2) or 31;

“foreign loan certificate” means a foreign loan certificate issued under section 57;

“manufacture”, in relation to a product, includes any process or method used in making or developing the product;

“new trade or business” means the trade or business of a pioneer enterprise deemed under section 7 to have been set up and commenced on the day following the end of its tax relief period;

“officer of customs” and “senior officer of customs” have the same meanings as in the Customs Act (Cap. 70);

“old trade or business” means the trade or business of a pioneer enterprise carried on by it during its tax relief period in accordance with section 7, and which either ceases within or is deemed, under that section, to cease at the end of that period;

“pioneer certificate” means a pioneer certificate issued under section 5;

“pioneer enterprise” means any company which has been approved by the Minister and to which a pioneer certificate has been issued under section 5;

“pioneer industry” means an industry declared under section 4 to be a pioneer industry;

“pioneer product” means a product declared under section 4 to be a pioneer product;

“production day”, in relation to a pioneer enterprise, means the date specified in its pioneer certificate under section 5(3)(a) or (5);

“productive equipment” means machinery or plant which would normally qualify for deduction under sections 19, 19A, 20, 21 and 22 of the Income Tax Act (Cap. 134);

“royalties, fees or contributions certificate” means a certificate issued under section 61;

“royalties or technical assistance fees” includes —

(a)	any royalties, rentals or other amounts paid as consideration for the use of, or the right to use, copyright, scientific works, patents, designs, plans, secret processes, formulae, trade marks, licences or other like property or rights;
(b)	income derived from the alienation of property or information mentioned in paragraph (a); and
(c)	other amounts paid in consideration of services rendered by a non-resident person or his employee in connection with the use of property or rights belonging to, or the initial operation of any plant, machinery or other apparatus purchased from, the non-resident person,

but does not include royalties, rentals or other amounts paid in respect of the operation of mines, quarries or other places of extraction of natural resources; or fees paid to an individual for the performance of professional services in Singapore other than as an employee;

“tax” means income tax imposed by the Income Tax Act (Cap. 134).

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