Enterprise Innovation Scheme (EIS) Cash Payout
The EIS was introduced in Budget 2023 to encourage businesses to engage in Research & Development, innovation and capability development activities for YA 2024 to 2028. Under the scheme, eligible businesses have an option to convert up to $100,000 of the total expenditure that qualifies for enhanced deduction allowance into cash at a conversion rate of 20%. The maximum cash payout is capped at 20,000 (20% x $100,000) per YA. For qualifying conditions and how to claim the EIS benefit, please refer to IRAS website: https://www.iras.gov.sg/schemes/disbursement-schemes/enterprise-innovation-scheme-(eis) For companies that require our assistance on the review and assist with the claim, please contact us HERE.
Continue ReadingCorporate Income Tax Filing Season 2024
The deadline for filing your Corporate Income Tax Return (Form C-S/ Form C-S (Lite)/ Form C) for the Year of Assessment (YA) 2024 is 30 Nov 2024. You may start filing your Income Tax Return for the Year of Assessment 2024 from 1 Jul 2024.
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