Parliament: Update to allow transfer of tax incentives when companies restructure

SINGAPORE - Companies that had been offered tax breaks under a government scheme aimed at encouraging them to operate in Singapore can continue to enjoy the incentive in case of corporate restructuring.

Singapore has traditionally enticed foreign investment by awarding tax incentives under the Economic Development Board schemes to firms, provided they undertake substantive economic activity here. Mr Chee said:"We know that companies increasingly co-own assets with other companies, including through corporate partnerships."

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