Second Minister for Finance announces International Arbitration Tax Incentive
15 Feb 2007 Posted in Announcements
In his Budget Speech 2007, the Second Minister for Finance Mr Tharman Shanmugaratnam announced that a new tax incentive will be introduced to boost international arbitration activities in Singapore.
With this new incentive, approved law firms will be granted a 50 per cent income tax exemption on qualifying incremental income derived from international arbitration work.
This scheme will be available from 1st July 2007 to 30 June 2012. The incentive duration will be up to five years. Further details will be released by end May 2007.
Last updated on 25 Nov 2012