Tax incentives
Find relevant tax incentives
Answer a few questions about your business and our e-Adviser for Government Assistance will recommend tax incentives you can apply for.
If you’re looking for government assistance schemes announced at Budget 2024, head to our Budget 2024 page.
Go to e-Adviser for Government Assistance
For all sectors
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Double Tax Deduction for Internationalisation (DTDi)
Companies planning to expand overseas can benefit from the DTDi, with a 200% tax deduction on eligible expenses for international market expansion and investment development activities.Hand-Carried Exports Scheme (HCES)
HCES is applicable if you wish to zero-rate your supplies to overseas customers for goods hand-carried out of Singapore via Changi International Airport.Major Exporters’ Scheme (MES)
Under MES, GST on non-dutiable goods is suspended at the point of import and also when the goods are removed from Zero GST warehouses. -
Enterprise Innovation Scheme
Enhanced deductions for R&D, innovation and capability development activities, with the option to partially convert to a cash payout in lieu of tax deductions. -
Double Tax Deduction for Internationalisation (DTDi)
Companies planning to expand overseas can benefit from the DTDi, with a 200% tax deduction on eligible expenses for international market expansion and investment development activities. -
Maritime Singapore Green Initiative
Provide incentives to companies that adopt clean and green shipping practices over and above the minimum required by International Maritime Organization (IMO) Conventions. -
Corporate Income Tax Rebate
50% Corporate Income Tax Rebate for companies in the Year of Assessment 2024, capped at $40,000. Minimum cash payout of $2,000 for smaller companies that employ at least one local employee.Major Exporters’ Scheme (MES)
Under MES, GST on non-dutiable goods is suspended at the point of import and also when the goods are removed from Zero GST warehouses.Refundable Investment Credit
Support qualified firms in developing high-value and substantive economic activities in key sectors and new growth areas in Singapore. -
Corporate Volunteer Scheme (CVS)
Under the CVS, businesses enjoy 250% tax deduction on wages and qualifying expenses when their staff volunteer or provide services to IPCs, including through secondments. Qualifying expenditure is subject to a cap of $250,000 per business per YA, and a cap of $100,000 per IPC per CY. The CVS (previously known as Business and IPC Partnership Scheme) was extended by three years to end-2026.
For specific sectors
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Approved Import GST Suspension Scheme
Under AISS, GST-registered businesses in the aerospace industry enjoy added import GST suspension benefits for qualifying aircraft parts. -
Investment Allowance Scheme (IAS)
The Investment Allowance Scheme (IAS) for the construction industry helps firms achieve higher levels of productivity through providing tax incentives for investments in productive equipment for construction-related works, and construction-related manufacturing facilities. -
Approved Third Party Logistics (3PL) Company Scheme
Approved logistics companies that provide logistics management services to overseas clients do not need to pay import GST or charge GST on the supplies of their overseas clients’ goods under certain circumstances. -
Approved Contract Manufacturer and Trade Scheme
Contract manufacturers and traders need not account for GST on value added activities supplied to non-GST registered overseas customers or overseas persons registered under the OVR regime as a pay-only person.
