Singapore Budget 2024 - Introduction of Refundable Investment Credit and additional concessionary tax rate tier on various incentives

22 February 2024|Tax Alerts, Information Reporting, Legislation & Policy, National/Federal Taxation|Singapore

New tax credits and incentives introduced in Singapore are aimed at encouraging investments in the country.
With Singapore's impending implementation of Income Inclusion Rule and Domestic Top-up Tax in 2025, companies will want to consider how the availability of the new incentives could be factored into their tax strategy.

The Singapore Budget 2024 introduces a Refundable Investment Credit (RIC), a Global Anti-Base Erosion (GloBE) rules-compliant qualified refundable tax credit with the ai…

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