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                                                                                                                                                                                                                                          SINGAPORE PHARMBIO GUIDE 2021/2022
  industrial land use intensification and towards higher value-added activities. • The incentive offsets qualifying capital expenditure incurred on
the construction or renovation/ extension of approved LIA buildings (administered by EDB).
• Double Tax Deduction for Internationalisation Scheme (DTDi) encourages business • internalisation by allowing businesses
to claim double tax deduction on up to S$150,000 of expenses for overseas business development missions, investment study trips, participation in trade fairs and other qualifying activities (administered by ESG).
• Global Trader Programme (GTP) serves to promote wholesale trade activities by providing a reduced corporate tax rate of 5% or 10% on qualifying trade income for a period of 3-5 years to local companies with substantial wholesale trade operations in Singapore (administered by ESG).
• IP Development Incentive
(IDI) encourages use and commercialisation of intellectual property (IP) rights arising from research and development (R&D) activities. Approved companies may be given a reduced corporate tax rate of 5% or 10% on the qualifying IP income (administered by EDB).
Non-Tax Incentives:
Research Incentive Scheme for Companies (RISC) serves to encourage companies to develop research and development capabilities and technologies in Singapore. The incentive supports R&D projects in the areas of science and technology (administered by EDB)
Training Grant for Company (TGC) is given to companies to support employee training programmes which help employees apply new technologies, industrial skills and professional know-how (administered by EDB)
searches (administered by Enterprise Singapore)
• Enterprise Development Grant is offered to local SMEs to help to defray up to 70% of eligible costs of their overseas expansion projects in capability building, market access and manpower development (administered by ESG)
• Enterprise Singapore administers a series of Startup SG schemes including mentor matchmaking, early- stage funding, equity co-investment, incubator support, technology access (A*STAR Tech Depot) and internship matching (SME Talent Programme). More info on the Startup SG website (www.startupsg.gov.sg).
• Tech@SG Programme and Tech. Pass are new initiatives administered by EDB and Enterprise Singapore to help fast-growing technology companies to attract technology talents into Singapore.
HUMAN RESOURCE: STAFFING MATTERS
Information on Singapore’s employment legislations may be obtained from the Ministry of Manpower’s website at www. mom.gov.sg. The ministry also partnered the Singapore National Employers Federation (SNEF) and the National Trades Union Congress (NTUC) to jointly set up the Tripartite Alliance Limited (TAL) to provide
• Resource Efficiency Grant for Energy (REG(E)) supports the adoption of energy efficient technologies in the manufacturing industry by funding up to 50% of qualifying expenditures associated with manpower, equipment, technology and profession services for implementing the said energy efficient technologies (administered by NEA and EDB)
• Market Readiness Assistance (MRA) Grant is offered to local small and medium-sized enterprises (SMEs) with global headquarters located in Singapore to help to defrayupto70%ofeligiblethird- party costs related to overseas market set-up and promotion as well as overseas business partners
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