Objective
The incentive aims to encourage new investments in flagship concepts stores in the retail, food and beverage and entertainment sectors.
Scope of Assistance
The Investment Allowance (IA) scheme under the Economic Expansion Incentives (Relief from Income Tax) Act is a further capital allowance on qualifying equipment costs incurred within a set period and reduces tax liability.
The IA scheme will be extended to qualifying retail, F&B and entertainment flagship concept projects.
Effective Date
The IA scheme will take effect for projects approved from 1 April 2005 to 31 March 2010.
Qualifying Criteria
To qualify for the scheme, new flagship projects for instance must be first of its kind in South East Asia and have wide international appeal, catering to both local and international visitors in general. Such projects should enhance Singapore's attractiveness as a tourist destination. The scheme is open to domestic flagship concepts as well.
Project Completion Date
Qualifying projects have to be completed within 2 years from the date of approval of application.
How to apply
Applicants are requested to contact STB for more information. Applicants are advised to discuss the proposed project with the officer-in-charge prior to making a formal application. Formal applications must be made on prescribed application forms and submitted to the STB.
Contact Information
Singapore Tourism Board
Tourism Court
1 Orchard Spring Lane
Singapore 247729
Tel: (65) 6736 6622
Fax: (65) 6736 9423
Last updated on 02 November 2007
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