Companies planning to expand overseas can enjoy a double tax deduction on qualifying expenses incurred from 1 Apr 2012 to 31 Dec 2030 for international market expansion and investment development activities.
As announced in Budget 2025, to continue supporting businesses in their internationalisation efforts, the Double Tax Deduction for Internationalisation Scheme will be extended for another 5 years till 31 Dec 2030.
Further details will be provided by Enterprise Singapore (ESG) by the second quarter of 2025.
1) Qualifying Expenditure
Under Sections 14B, 14H and 14I of the Income Tax Act 1947, your company may claim double tax deduction on qualifying expenses incurred in the following 9 qualifying activities up to the specified expenditure cap, without the need to seek prior approval from ESG or Singapore Tourism Board (STB)
2) Qualifying Period
The Double Tax Deduction for Internationalisation Scheme applies for the following qualifying period:
Automatic double tax deduction applies for qualifying expenditure incurred from 1 Apr 2012 to 31 Dec 2030.
The approval window for qualifying expenditure incurred in excess of the specified expenditure cap and on other qualifying activities is from 1 Apr 2012 to 31 Dec 2030.
You can view the full article here: https://www.iras.gov.sg/…/double-tax-deduction-for…
