On 30 June 2023, the Inland Revenue Authority of Singapore (IRAS) published an e-Tax Guide on the Enterprise Innovation Scheme (EIS). The EIS was introduced by the Finance Minister in the Singapore 2023 Budget, and allows businesses engaging in research and development to:
The EIS is available from Year of Assessment (YA) 2024 to YA 2028.
This article outlines the qualifying activities and expenditure caps of the EIS and deduction rules, amongst others.
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