Page 15 - BM2223 eBOOK 26Aug22-v2

GOVERNMENT DEVELOPMENT ASSISTANCE PROGRAMMES
TIMES BUSINESS DIRECTORY OF SINGAPORE 2022/2023
For more information please visit https://www.gobusiness.gov.sg/gov-assist/
TAX INCENTIVES
Programmes
Description
Approved Contract Manufacturer and Trade Scheme (ACMT)
With ACMT, contract manufacturers and traders do not need to account for GST on value-added activities supplied to non-GST registered overseas customers or overseas persons registered under the Overseas Vendor Registration (OVR) regime as a pay-only person.
Approved Import GST Suspension Scheme (AISS)
Under AISS, GST-registered businesses in the aerospace industry enjoy added import GST suspension benefits for qualifying aircraft parts.
Approved Third Party Logistics (3PL) Company Scheme
Under this scheme, approved logistics companies that provide logistics management services to overseas clients do not need to pay import GST or charge GST on the supplies of their overseas clients’ goods under certain circumstances.
Automated Double Tax Deduction for Internationalisation Scheme (DTDi)
Companies planning to expand overseas can benefit from automatic DTDi, with a 200% tax deduction on eligible expenses of up to S$150,000, for international market expansion and investment development activities.
Double Tax Deduction for Internationalisation (DTDi)
Companies planning to expand overseas can benefit from DTDi, with a 200% tax deduction on eligible expenses for international market expansion and investment development activities.
Hand-Carried Exports Scheme (HCES)
Under HCES, you may zero-rate your supplies to overseas customers for goods hand-carried out of Singapore via Changi International Airport.
Major Exporters’ Scheme (MES)
Under MES, GST on non-dutiable goods is suspended at the point of import and when the goods are removed from Zero GST warehouses.
LOANS
Programmes
Description
Enterprise Financing Scheme (EFS)
EFS helps Singapore enterprises to access financing more readily. Enterprise Singapore (ESG) will share the loan default risk in the event of enterprise insolvency with the Participating Financial Institutions (PFIs).
Internationalisation Finance Scheme (IFS) - Non-Recourse
IFS gives mid-sized companies access to up to S$50 million in project financing for local and overseas development projects. Enterprise Singapore (ESG) co-shares default risks with Participating Financial Institutes (PFIs).
Temporary Bridging Loan Programme (TBLP)
The TBLP provides access to working capital for business needs, at a maximum supported loan of S$3 Million with 70% Government risk-share on loans for new applications initiated from 1 April-30 September 2021.
11