Tax

When awarded the 13O or 13U Incentive, how is the Business Spend requirement determined? Is first year pro-rated?

• The first year Business Spend ("BS") or Local Business Spend (“LBS”) basis is pro-rated based on the incentive commencement date,
  
  For example if your incentive start date is 11/04/2022 and Year End 30 Sep 2022

  • BS Period for YA2023 = 11/04/2022 to 30/09/2022 (173 Days inclusive)
  • BS or LBS = Number of days from incentive commencement date (173 / 365) x S$200,000 = ~$94,795

  For the next Year: YA2024 = 01/10/2022 to 30/09/2023 (365 days)
  LBS = S$200,000

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