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.