A bill introduced in Parliament on 3 October 2023 proposes changes to existing income tax law to help simplify the approved royalty incentive. The Singapore Budget 2022 announced the simplification of the approved royalty incentive to cover classes of royalty agreements predicated on an activity-set-based approach (instead of an agreement-based approach). Executive summaryOn 3 October 2023, the Economic Expansion Incentives (Relief from Income Tax) (Amendment) Bill 2023 (Amendment Bill) was introduced in the Singapore Parliament, proposing changes to Section 40 of the Economic Expansion Incentives (Relief from Income Tax) Act 1967 (EEIA) and consequential amendments to the Income Tax Act...