Singapore published the Economic Expansion Incentives (Relief from Income Tax) (Amendment) Act 2024 in the Official Gazette on 10 December 2024. The Act provides for the introduction of an additional Concessionary Tax Rate (CTR) of 15% that may be approved under the Development and Expansion Incentive (DEI) from 17 February 2024, in addition to the existing 5% or 10% rates. The 15% rate may only be approved or substituted for qualifying expansion income derived on or after 1 January 2024. This DEI is intended for companies whose pioneer status has expired that are engaged in capital investment to modernize or...