Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill

Bill No. 28/1980

Read the first time on 31st October 1980.

An Act to amend the Economic Expansion Incentives (Relief from Income Tax) Act (Chapter 135 of the Revised Edition).

Be it enacted by the President with the advice and consent of the Parliament of Singapore, as follows: —

Short title

1. This Act may be cited as the Economic Expansion Incentives (Relief from Income Tax) (Amendment) Act, 1980.

Amendment of section 46A

2. Section 46A of the Economic Expansion Incentives (Relief from Income Tax) Act is amended —

(a)

by inserting, immediately after the word “Singapore” at the end of the definition of “fixed capital expenditure” in subsection (1), the following words: —

“; and the reference to factory building in this definition shall, in relation to a project under paragraph (b) or (c) of subsection (1) of section 46B, include a building used for carrying out that project”; and

(b)

by deleting the full-stop at the end of the definition of “investment day” in subsection (1) and substituting a semi-colon, and by inserting immediately thereafter the following definition: —

“ “research and development” has the same meaning as in the Income Tax Act (Cap. 141).”.

Amendment of section 46B

3. Section 46B of the Economic Expansion Incentives (Relief from Income Tax) Act is amended by deleting subsection (1) and substituting the following: —

“(1) Where a company proposes to carry out a project —

(a)	for the manufacture or increased manufacture of any product;
(b)	for the provision of specialised engineering or technical services; or
(c)	for research and development,

it may apply in the prescribed form to the Minister for the approval of an investment allowance in respect of the fixed capital expenditure for the project.”.

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