Event Details
In response to new global developments in the post-pandemic era, the Singapore government recently presented Budget 2023. A number of developments arising from the Budget may have an impact on the net-of-tax return on business investments. Aerospace business leaders and tax and finance professionals should take note of these, even as the industry recovers and sees a flurry of new activities and investments.
- Singapore will be joining the EU, Japan, Korea and other countries in implementing the Global Anti-Base Erosion (GloBE) rules and Domestic Top-Up Tax of 15%, affecting financial years from 1 January 2025 onwards. For companies enjoying existing tax incentives in Singapore such as the Pioneer-manufacturing incentive, Development and Expansion Incentive and Aircraft Leasing Scheme, the introduction of these rules may have an impact on the benefits originally anticipated.
- Singapore has introduced the Enterprise Innovation Scheme to encourage businesses to engage in R&D, innovation and capability development activities. This scheme also includes a cash conversion option, which would be especially helpful for small and medium enterprises.
AAIS is pleased to present two speakers from EY to share about the above developments and what you should take into consideration. The presentations will be followed by an opportunity to obtain answers to your questions. AAIS Members attend for free, and Non-Members for a fee
