Country:Singapore
Year:1996
Policy status:In Force
Jurisdiction:National
Date Effective:1996
Policy Type:Economic Instruments>Fiscal/financial incentives>Tax relief
Policy Target:Solar
Policy Sector:Multi-sectoral Policy
Agency:National Environment Agency
URL:http://www.nccc.gov.sg/incentive/catB.shtm
Funding:One Year Accelerated Depreciation Allowance
Description:This tax incentive scheme is provided under the Income Tax Act. Capital expenditure on qualifying energy efficient or energy-saving equipment can be written off in 1 year instead of 3. Qualifying equipment include: solar heating or cooling system and solar energy collection systems. Capital expenditure pertains to costs incurred by the investment in or purchase of long-term business assets. All costs directly related to the project, including the equipment, supplies and installation costs, are eligible for accelerated tax allowance, except consultancy work. Any person carrying on a trade, profession or business in Singapore is eligible for the tax incentive. The applicant must own the equipment and use it for business purposes only.

Last modified: Mon, 09 Jul 2012 11:42:39 CEST