Essay: Economic Expansion Incentive Act

Sample Essay

There are various other incentives provided in the Act to companies and businesses which contribute to the development of economy which include incentives for foreign companies and deduction of research and development expenses twice in areas such as research in medicine, software designing, testing in laboratories and agricultural technology. The incentives are provided to foreign companies in order to attract a larger amount of foreign investment to the country while double deduction of expenses is allowed in specific areas to emphasize which areas of research and development are important and beneficial for the country[1].

It is conclude from the analysis of Economic Expansion Incentive Act in previous sections that the government of Singapore is quite serious in developing the economy through several areas by offering multiple incentives in various areas such as incentives to state-of-the-art companies, incentives for capital expenditures focused on creating innovative products, incentives for companies that display increased development and growth, incentives for foreign companies operating in Singapore and various other areas. The main focus of all these incentives is the increase of research, development and foreign investment in the country which eventually lead to economical growth and stability.