EDB Extends Tax Perks to Law Firms
Posted on Thursday, April 01, 2004 - 02:03 AM
The Economic Development Board is broadening its incentive schemes to help Singapore-based law firms to expand. The scheme also applies to accounting and auditing firms.
Channel News Asia reported that the EDB's new Expansion Incentive for Partnerships (EIP) scheme allows such partnerships to enjoy a 50 per cent tax exemption on qualifying overseas income, above a pre-determined base.
"The new programme will encourage more of such professional services to use Singapore as a hub, and also establish within Singapore, multiple centres of competence as they provide their professional services to the region and beyond," said Dr Vivian Balakrishnan, Minister of State for Trade and Industry and National Development during EDB's Combined Headquarters Award Ceremony on 31 March 2004 at Equinox..
Further information on EIP can be obtained from
EDB's Website.
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