News

Expansion of Partnership Tax Incentive Scheme To Law Firms 
Posted on Wednesday, March 31, 2004 - 08:00 PM

As part of EDB's concerted efforts to develop professional services, a new Expansion Incentive for Partnerships (EIP) programme for audit, accounting and law firms has been launched. This programme allows such firms, typically constituted as partnerships, to enjoy a 50% tax exemption on the qualifying overseas income above a pre-determined base. Previously, tax incentives were only available to manufacturing and services corporations. The EIP programme aims to encourage audit, accounting and law firms to use Singapore as their central business hub to develop their business and proficiencies locally and service the regional market from here.