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The STB, in embracing its mission to develop and champion tourism, has adopted a more comprehensive and holistic approach to building the tourism sector into a key driver of economic growth for Singapore. Beyond the traditional role of promoting the destination, the STB also plans, regulates and facilitates the development of the tourism industry. This is to ensure the sustainable and long-term growth of the sector, and an increase in the sector's contribution to the Singapore economy.
The STB cannot work in isolation nor spearhead all aspects of developing Singapore's tourism sector alone. Collaborating with and supporting other public agencies and the private sector is vital for the sector's success. As such, the STB supports, incentivises and catalyses the private sector to take the lead in investing for sector growth. The areas of facilitation include investment promotion, product and industry development, financial grants and tax incentives. These aim to encourage companies to develop new ideas and market Singapore as a tourism destination.
In terms of financial grants, the Tourism Development Assistance Scheme (TDAS) led by the STB is aimed at accelerating the pace of tourism development in Singapore.
In terms of tax incentives, the STB offers Double Tax Deduction for Inbound Tourism Promotion and Double Tax Deduction for Local Trade Exhibitions, which are aimed at encouraging companies to market Singapore as a destination at overseas trade fairs and missions as well as to expand their markets by participating in international trade-oriented exhibitions held in Singapore.
Also recently announced are the Investment Allowance Scheme For Flagship Concepts, which aims to encourage new investments in flagship concepts stores in the retail, food and beverage and entertainment sectors, and the Concessionary Tax Rate For Approved Mega Events, which aims to encourage event organisers to bring in or stage mega events.
The Film in Singapore! Scheme (FSS) aims to facilitate international film-makers and broadcasters in the shooting, production and post-production of quality movies and television programmes in Singapore. The Training Industry Professionals in Tourism (TIP-iT) is an incentive scheme which aims to support strategic companies in their manpower development through the acquisition and application of specialised skills / new capabilities that would directly contribute to achieving Tourism 2015 objectives. To make it easier for you to stage or expand your business event in Singapore, the Singapore Exhibition & Convention Bureau (SECB) ? a group of the Singapore Tourism Board, offers customised support to business event organisers, corporations and associations under the BE in Singapore incentive scheme.
Last updated on 02 November 2007
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