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Singapore Budget 2024 roundtable and tax updates for the technology industry

EY Singapore office, One Raffles Quay, North Tower, Level 18 WavespaceTM, 048583, Singapore
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Join this highly interactive roundtable, designed for senior tax and finance personnel in technology companies about Singapore tax issues

Geopolitical dynamics disruptions, supply chain challenges, environmental, social, and governance (ESG) considerations, and breakthroughs in artificial intelligence (AI) are reshaping the global business landscape – and the big technology companies are at the forefront of this transformation.

In the Singapore Budget 2024, it was announced that Singapore will invest more than S$1bn over the next five years into AI compute, talent and industry development as part of the National AI Strategy 2.0. Technology companies also face a shifting tax landscape, including the developments in Base Erosion and Profit Shifting (BEPS), the evolution of tax administrations as well as other regional tax developments. The Refundable Investment Credits (RIC) regime was also introduced in Budget 2024 in response to BEPS developments.

The RIC is one of the most important -- and exciting – tax announcements during Singapore Budget 2024 for three reasons:

  • The RIC will encourage companies to make sizable investments that bring substantive economic activities to Singapore, in key economic sectors and new growth areas.
  • The RIC support may provide up to 50% of support of qualifying expenditure.

This roundtable, designed for senior tax and finance personnel in technology companies, will be highly interactive as we discuss in depth the Singapore tax issues pertinent to the technology industry. 

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