{"id":3593,"date":"2024-05-03T05:59:52","date_gmt":"2024-05-03T05:59:52","guid":{"rendered":"https:\/\/orbis-alliance.com\/?p=3593"},"modified":"2024-05-03T06:03:53","modified_gmt":"2024-05-03T06:03:53","slug":"singapore-initiatives-and-support-measures-to-help-businesses-thrive","status":"publish","type":"post","link":"https:\/\/orbis-alliance.com\/fr\/singapore\/singapore-initiatives-and-support-measures-to-help-businesses-thrive","title":{"rendered":"SINGAPORE &#8211; Budget 2024\/2025 : initiatives and support measures to help businesses thrive"},"content":{"rendered":"<p>Singapore\u2019s 2024-2025 budget statement on 16 February 2024 contained a suite of support measures to help businesses tackle cost concerns, and initiatives to improve the competitiveness of Singaporean companies.<\/p>\n<p>Here is a recap of the key measures and initiatives:<\/p>\n<ol>\n<li><strong>50% Corporate Income Tax (CIT) rebate<\/strong><\/li>\n<\/ol>\n<p>Companies in Singapore will receive a Corporate Income Tax (CIT) rebate of 50 per cent, capped at S$40,000 for 2024. For companies which are not profitable, minimum cash payouts of S$2,000 will be disbursed to businesses with at least one local employee in 2023.<\/p>\n<ol start=\"2\">\n<li><strong>Enterprise Financing Scheme enhancements<\/strong><\/li>\n<\/ol>\n<p>The already existing Enterprise Financing Scheme (EFS) will see significant improvements:<\/p>\n<ul>\n<li>Small and medium-sized enterprises (SMEs) can expect a permanent raise in the maximum loan quantum for the EFS \u2013 SME Working Capital Loan, increasing from SG$300,000 to SG$500,000.<\/li>\n<li>To help enterprises with trade financing requirements, the enhanced maximum loan quantum of SG$10 million under the EFS \u2013 Trade Loan will continue until 31 March 2025.<\/li>\n<li>To assist domestic construction firms in overcoming tough market conditions, the EFS \u2013 Project Loan will also be extended to 31 March 2025, with a maximum loan quantum of SG$15 million for construction projects.<\/li>\n<\/ul>\n<ol start=\"3\">\n<li><strong>New Refundable Investment Credit (RIC) scheme<\/strong><\/li>\n<\/ol>\n<p>Companies with substantive economic activities in Singapore may leverage the new Refundable Investment Credit (RIC) scheme. Targeted activities include investing in new productive capacity, carrying out research and development (R&amp;D) and innovation activities.<\/p>\n<p>Awarded by the Singapore Economic Development Board (<a href=\"https:\/\/www.edb.gov.sg\/\">EDB<\/a>) and Enterprise Singapore (<a href=\"https:\/\/www.enterprisesg.gov.sg\/\">EnterpriseSG<\/a>), this scheme will be granted based on eligible expenses a company incurs for an approved project for up to ten years.<\/p>\n<p>The amount of RIC a company can receive will vary based on the support rates for various qualifying expenditure categories, including capital outlays, labour costs, training expenses, and fees for work outsourced in Singapore.<\/p>\n<p>Should you have any inquiries regarding how the Singapore 2024\/25 may impact your business operations or your personal financial situation, please contact us via <u>contact@orbis-alliance.com<\/u>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Singapore\u2019s 2024-2025 budget statement on 16 February 2024 contained a suite of support measures to help businesses tackle cost concerns, and initiatives to improve the competitiveness of Singaporean companies. Here is a recap of the key measures and initiatives: 50% Corporate Income Tax (CIT) rebate Companies in Singapore will receive a Corporate Income Tax (CIT) [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":3598,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[138],"tags":[],"class_list":["post-3593","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-singapore"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/orbis-alliance.com\/fr\/wp-json\/wp\/v2\/posts\/3593","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/orbis-alliance.com\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/orbis-alliance.com\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/orbis-alliance.com\/fr\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/orbis-alliance.com\/fr\/wp-json\/wp\/v2\/comments?post=3593"}],"version-history":[{"count":0,"href":"https:\/\/orbis-alliance.com\/fr\/wp-json\/wp\/v2\/posts\/3593\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/orbis-alliance.com\/fr\/wp-json\/wp\/v2\/media\/3598"}],"wp:attachment":[{"href":"https:\/\/orbis-alliance.com\/fr\/wp-json\/wp\/v2\/media?parent=3593"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/orbis-alliance.com\/fr\/wp-json\/wp\/v2\/categories?post=3593"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/orbis-alliance.com\/fr\/wp-json\/wp\/v2\/tags?post=3593"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}