What is the Small Business Recovery Grant?

The SGD$500 million Jobs and Business Support Package announced during Budget 2022 consists of two schemes, namely the Small Business Recovery Grant and the Jobs Growth Incentive. These schemes provide targeted help for workers and businesses in segments of the economy that are facing slower recoveries. In this article, we will be focusing on the [...]

By |2022-03-31T14:47:27+08:00April 4th, 2022|Grants and Other Incentives|

What does Budget 2022 mean for businesses?

Every year, the finance minister will lay out plans to help businesses during his budget speech. As Singapore moves out of the pandemic phase of dealing with Covid-19 to treating the virus as endemic, businesses should start to pick up. However, there will still be some segments of the economy that are still reeling from [...]

By |2022-03-31T12:19:54+08:00March 31st, 2022|Grants and Other Incentives|

Enterprise Development Grant (EDG) support to be reduced to 70% after 31st March 2022

What is the Enterprise Development Grant (EDG)? The Enterprise Development Grant helps Singapore companies grow and transform. There are 3 pillars under EDG: Core Capabilities Projects under Core Capabilities help businesses prepare for growth and transformation by strengthening their business foundations. These should go beyond basic functions such as sales and accounting. Innovation and Productivity [...]

By |2022-02-07T11:38:40+08:00February 8th, 2022|Grants and Other Incentives|

COVID-19 Support: Longer Instalment Plans for Corporate Income Tax 2021

Due to the impact of the COVID-19 pandemic, the Inland Revenue Authority (IRAS) is supporting businesses through a range of measures. One of them is allowing companies to arrange for a longer instalment plan when paying for their corporate taxes. If the company is facing difficulties in paying taxes, it is the responsibility of the [...]

How can the Enterprise Development Grant help my company?

The Enterprise Development Grant (EDG) was created to help Singapore companies grow and transform. The grant supports projects that will help companies upgrade their business, innovate or venture overseas. To be eligible for the Enterprise Development Grant, a company needs to: Be a registered business entity in Singapore and be operating Have a minimum of [...]

By |2021-06-09T11:14:39+08:00February 5th, 2021|Grants and Other Incentives, Questions and Answers|

Hawkers Go Digital scheme and financial incentive

This is an incentive by the SG Digital Office to help our hawkers safely operate in the post-COVID future as well as to help stallholders reduce physical contact with their customers during the current pandemic. Thus this scheme encourages the adoption of the SGQR, unified e-payment solution. Enterprise Singapore (“ESG”) and the Infocomm Media Development [...]

By |2021-06-09T12:15:14+08:00January 1st, 2021|Grants and Other Incentives|

Business and IPC Partnership Scheme (BIPS)

The Business and IPC Partnership Scheme (BIPS) is a scheme that allows 250% corporate tax deduction on qualifying expenses when a business' or company's employees volunteer, provide professional services to recognised Institutions of Public Character (IPCs) The employee of a business or company in Singapore can qualify for the BIPS scheme provided: he or she [...]

By |2021-06-09T11:17:03+08:00July 16th, 2020|Grants and Other Incentives, Running a Company|

Common Tax Reliefs that will help to reduce the tax bill for Companies

The Singapore government has tax reliefs that are designed to reduce the tax burden for companies. The Inland Revenue Authority of Singapore (IRAS) has come up with a Partial Tax Exemption for Companies (PTE). All companies, including companies limited by guarantee, can enjoy PTE unless they have already claimed the Tax Exemption Scheme for New [...]

By |2021-06-09T11:16:15+08:00December 31st, 2018|Accounting Bookkeeping Tax and XBRL, Grants and Other Incentives|

Common Tax Reliefs that will help to reduce the tax bill for New Start-Up Companies

The Singapore government has always been supportive of start-up companies and has many schemes to support entrepreneurship. One of the ways which they have been assisting new start-up companies is by providing tax reliefs. Let us focus on Year of Assessment 2019 and 2020. Year of Assessment 2019 (YA 2019) This is for financial years [...]

Go to Top