APPENDIX TABLES Singapore WT/TPR/S/202 
 Page 111 
 
 
Table AI.1 
Source of productivity growth, 2003-07 
(Per cent)  
  2003 2004 2005 2006 2007 
Output 3.4 8.6 7.0 7.9 7.4 
Capital 1.4 1.7 1.6 2.1 2.8 
Labour -0.6 0.8 1.9 2.9 3.7 
TFP 2.6 6.1 3.5 2.9 0.9 
Labour productivity growth 4.7 7.0 2.7 1.5 -0.9 
Capital productivity growth 0.6 5.3 4.1 4.1 2.3 
Note: All growth rates ar e expressed in log terms.  
Source: Based on data provided by the Singapore authorities. WT/TPR/S/202 Trade Policy Review 
Page 112 
 
 
Table AI.2 
Inflows of foreign direct investme nt by country and region, 2003-07a 
(S$ million)  
  2003 2004 2005 2006 2007 
Total 20,321.1 33,514.3 23,185.5 39,315.1 38,155.3 
ASEAN 1,218.3 926.5 1,944.5 1,900.4 1,551.6 
Indonesia 417.0 459.8 356.7 1,109.9 440.9 
Malaysia 794.8 346.2 1,614.9 523.7 913.0 
Australia 212.3 550.5 193.0 -2.1 666.8 
China 260.3 353.5 78.6 935.9 624.7 
Chinese Taipei 1,697.2 35.4 -565.4 244.2 -285.0 
European Communitiesb 4,137.9 9,911.7 10,836.7 12,615.0 14,042.2 
Hong Kong, China -818.9 362.6 -397.0 264.0 396.8 
India 181.4 204.9 547.1 1,042.2 1,320.8 
Japan 2,119.4 2,536.6 2,495.5 5,192.7 3,608.2 
Korea, Rep. of 699.3 339.5 287.4 435.8 1,206.9 
New Zealand 0.0 -6.2 786.1 -466.6 63.7 
United States 1,608.9 7,491.4 -4,038.6 1,765.6 786.4 
Otherc 9,005.0 10,807.9 11,017.6 15,388.0 14,172.2 
a Preliminary set.  Figures for 2003-06 include equity, inter-c ompany loans and reinvested ear nings.  Figures for 2007 include only 
equity and reinvested earnings.  
b For 2003 EC15, then EC25. 
c Other Europe (non-EC countries), Central and South America, Bermuda. 
Source:  Data provided by the authorities of Singapore. 
 Singapore WT/TPR/S/202 
 Page 113 
 
 
Table AI.3 
Stock of foreign direct investme nt by country and region, 2003-06 
(S$ million)  
  2003 2004 2005 2006 
Total inward stock  251,652.1  285,876.7  327,044.7  345,873.1  
Asia 58,447.7  64,215.3  78,442.2  81,284.7  
Brunei Darussalam 341.2  357.9  380.7  311.0  
China 867.9  380.3  819.1  1,544.7  
Hong Kong, China 4,050.1  4,584.5  4,918.0  6,279.7  
India 352.0  479.5  1,271.6  1,580.6  
Indonesia 1,669.3  1,097.3  721.2  528.2  
Japan 33,970.8  37,513.6  44,464.6  43,966.8  
Korea, Rep. of 1,681.7  846.7  1,257.2  1,623.0  
Malaysia 4,557.3  5,145.9  8,255.1  8,659.1  
Myanmar 7.2  7.6  14.7  14.7  
Philippines 910.8  1,120.1  1,057.7  776.0  
Chinese Taipei 5,909.4  5,731.8  7,213.2  7,665.8  
Thailand 996.1  1,046.0  1,365.6  1,421.0  
Viet Nam 24.0  32.7  21.1  12.8  
ASEAN 8,506.4  8,808.6  11,817.2  11,723.7  
Europe 106,302.4  121,906.2  140,817.8  151,518.0  
France 5,381.2  5,574.8  6,132.2  6,643.4  
Germany 6,179.6  7,321.5  8,102.6  8,202.3  
Netherlands 27,584.5  32,263.0  33,672.7  34,467.5  
Norway 4,669.0  6,238.4  8,048.6  9,987.7  
Switzerland 16,938.6  16,547.2  21,806.9  25,830.7  
United Kingdom 39,369.1  45,195.4  50,892.9  52,621.1  
European Uniona 84,336.5  98,988.2  110,777.6  115,510.7  
United States 37,674.4  45,151.8  45,358.4  46,097.9  
Canada 2,606.1  2,865.5  2,574.3  2,555.2  
Australia 2,097.1  2,700.9  2,854.7  2,600.2  
New Zealand 145.2  142.4  223.1  876.1  
South and Central America and the Cari bbean 39,911.1  43,159.8  48,776.5  54,786.6  
Other 4,468.1  5,734.8  7,997.7  6,154.3  
Total outward stock 155,712.6 182,479.1 197,042.1 210,449.4 
Asia 77,618.5 86,270.9 100,936.5 106,401.7 
Brunei Darussalam 61.4 63.6 59.7 59.3 
Cambodia 233.8 124.3 122.1 116.1 
China 19,820.2 22,188.8 26,359.7 27,418.0 
Hong Kong, China 11,242.9 11,944.8 15,163.6 14,018.3 
India 1,138.9 1,250.7 1,972.6 2,862.5 
Indonesia 10,390.7 12,025.3 14,221.3 15,222.4 
Japan 1,974.8 2,277.5 2,550.7 2,228.3 
Korea, Rep. of 2,556.8 2,833.5 3,149.7 3,184.3 
Laos 66.8 83.0 81.5 81.6 
Malaysia 13,592.9 14,782.9 16,349.7 16,380.3 
Myanmar 1,132.3 701.8 906.7 977.6 
Philippines 3,228.7 3,020.1 3,262.7 3,548.4 
Chinese Taipei 3,687.6 3,814.9 4,514.5 4,935.4 
Thailand 4,705.8 7,224.6 8,374.2 11,478.8 
Viet Nam 1,461.9 1,525.5 1,708.5 1,642.3 
ASEAN 34,874.3 39,551.1 45,086.4 49,506.9 
Table AI.3 (cont'd) WT/TPR/S/202 Trade Policy Review 
Page 114 
 
 
  2003 2004 2005 2006 
Europe 13,582.6 16,706.8 15,725.2 24,982.8 
France 411.4 238.0 232.9 192.0 
Germany 107.2 393.4 410.7 432.4 
Netherlands 748.5 1,009.3 1,101.3 1,095.7 
Switzerland 601.8 598.0 624.9 625.1 
United Kingdom 7,606.5 7,251.5 7,121.8 15,624.7 
European Communitiesa 10,295.7 11,348.9 10,708.5 19,207.1 
United States 9,031.7 9,833.2 9,824.7 8,584.5 
Canada 107.7 122.1 232.7 248.6 
Australia 4,647.7 11,081.0 9,777.0 9,718.1 
New Zealand 1,067.1 1,287.2 1,256.5 1,264.6 
South and Central America and the Caribbean 42,460.5 44,277.8 46,911.2 47,486.2 
Other 7,196.7 12,900.2 12,378.3 11,763.0 
a For 2003 EC15, then EC25.  
Note: As at year-end. 
Source : Data provided by the authorities of Singapore. 
 Singapore WT/TPR/S/202 
 Page 115 
 
 
Table AI.4 
Inflows of foreign direct invest ment by economic activity, 2003-07 
(S$ million)  
 2003 2004 2005 2006 2007a 
Total inflows 20,321.1 33,514.3 23,185.5 39,315.1 38,155.3 
Agriculture, fishery and forestry -1.7 -11.5 -5.6 6.4 -4.6 
Mining and quarrying -0.7 -2.0 0.5 6.3 23.3 
Manufacturing 6,387.1 6,570.8 9,232.8 10,051.9 11,021.4 
Construction -37.4 -64.8 16.0 -22 7.1 
Trade/commerce 3,654.4 7,585.4 3,290.2 7,688.3 10,125.4 
Financial & insurance 5,193.2 13,453.9 4,318.2 11,899.9 4,669.6 
Real estate 1,434.3 2,885.9 1,180.0 3,023.5 4,376.1 
Other services 3,679.4 2,804.3 5,186.5 5,859.4 7,437.2 
Other 12.5 292.3 -33.1 801.4 499.8 
a Preliminary. 
Note: Figures for 2003-06 include equity, inter-company loans a nd reinvested earnings.  Figures for 2007 include only equity an d 
reinvested earnings. 
Source : Data provided by the authorities of Singapore. 
 WT/TPR/S/202 Trade Policy Review 
Page 116 
 
 
Table AI.5 
Stock of foreign direct investment by economic activity, 2003-06 
(S$ million)  
  2003 2004 2005 2006 
Total inward stock  251,652.1  285,876.7  327,044.7  345,873.1  
Manufacturing 91,717.1  96,923.8  105,339.7  109,124.9  
Construction 1,409.6  1,129.0  921.9  1,054.2  
Wholesale & retail trade, hotels & restaurants 40,091.0  45,995.6  57,429.7  62,194.6  
Transport & storage 10,233.2  13,118.1  17,303.3  19,230.9  
Information & communication 3,121.6  3,456.0  3,736.8  3,668.7  
Financial & insurance  89,626.7  108,637.9  123,741.0  130,152.7  
Real estate, rental & leasing 6,440.3  8,239.8  8,314.0  9,762.2  
Professional & technical, administrative & suppor t services 8,860.7  8,225.4  9,945.4  10,320.7  
Other 151.9  151.0  312.9  364.2  
Total outward stock  155,712.60 182,479.1 197,042.1 210,449.4 
Manufacturing 33,231.00 37,689.1 45,081.9 48,285.3 
Construction 751.8 978.2 979.6 1,007.2 
Wholesale & retail trade, hotels & restaurants 11,573.40 12,583.0 13,367.8 13,846.7 
Transport & storage 6,726.70 6,765.9 9,533.6 10,032.9 
Information & communication 7,623.10 9,831.5 10,692.9 12,187.0 
Financial & insurance  85,501.50 100,617.8 100,386.3 108,258.9 
Real estate, rental & leasing 7,494.80 7,597.3 8,854.4 8,714.3 
Professional & technical, administrative & support services 913 3,232.8 3,564.6 3,274.9 
Other 1,897.30 3,183.5 4,581.0 4,842.0 
Note: As at year-end.  
Source:  Data provided by the authorities of Singapore. Singapore WT/TPR/S/202 
 Page 117 
 
 
Table AII.1 
Main trade-related laws in Singapore, September 2007 
Laws Area 
Customs Act (Cap. 70 and Amendment 2007) Customs procedures and requirements  
Customs (Duties) Order (Cap. 70 O4) Customs tariff 
Customs (Duties) (Exemption) Order (Cap. 70 O5) Tariff exemptions  
Customs (Valuation) Regulations (Cap. 70 Rg  8 and Amendment 2005) Customs valuation  
Consumer Protection (Fair Trading) Act, 2003 (Cap. 52A and Amendment 2004) Protection of consumers from unfair trade 
practices 
Regulation of Imports and Exports Act (Cap . 272A) Regulation of imports and exports 
Strategic Goods (Control) Regulations 2004 (Cap. 300 Rg 1 and Amendment 2006) Regulation of trade in strategic 
goods/technology 
Regulation of Imports and Exports (Licen sing) Regulations (Cap. 272A Rg 2);  
Endangered Species (Import and Export) Act (Cap. 92A and Amendment 2005) Import licensing 
Regulation of Imports and Exports Regula tions (Cap. 272A Rg 1 and Amendment 2004) Import, export, and trans-shipment of 
goods;  certificates of origin 
Arms and Explosives Act (Cap. 13 and Amendment 2007)  Manufacture, use, sale, storage, transport, 
importation, exportation and possession of 
arms and explosives 
Countervailing and Anti-Dumping Duties Act (Cap. 65B and Amendment 2004);  
Countervailing and Anti-Dumping Dutie s Regulations (Cap. 65B Rg 1) Anti-dumping and count ervailing measures 
Economic Expansion Incentives (Relief from Income Tax) Act (Cap. 86 and 
Amendment 2007);  Income Tax Act (Cap. 134 and Amendment 2007) Tax incentives 
Patents Act (Cap. 221 and Amendment 2007);  Copyright Act (Cap. 63 and Amendment 
2005);  Trade Marks Act (Cap. 332 and Amendment 2007);  Registered Designs Act 
(Cap. 266 and Amendment 2004), Geographical I ndications Act (Cap. 117B);  Layout 
Design of Integrated Circuits Act (Cap. 159A and Amendment 2004) Intellectual property rights  
Standards, Productivity and Innovation Board Ac t (Cap. 303A and Amendment 2006) Standards 
Commodity Trading Act (Cap. 48A and Amendment 2007) Commodity trading 
Sale of Food Act (Cap. 283);  Food Regula tions (Cap. 283 Rg 1 and Amendment 2006);  
Poisons Act and its Rules (Cap. 234 and Amendment 2005) Food standards and safety, labelling 
Agri-Food and Veterinary Authority Act (C ap. 5 and Amendment 2004);  Animals and 
Birds Act (Cap. 7);  Control of Plants Act (Cap.57A);  Endangered Species (Import and  
Export) Act 2006;  Fisheries Act (Cap. 111);  Control of Plants (Phytosanitary 
Certification) Rules 2005 (Cap. 57A Ru 6);  C ontrol of Plants (Plant Importation) Rules 
2005 (Cap. 57A Ru 4);  Plant Varieties Protection Act (Cap. 232A and Amendment 
2007) SPS-related 
Environmental Pollution Control Act (Cap. 94A  and Amendment 2007) Environmental protection 
Weights and Measures Act and Regulations 2005 (Cap. 349 02 and Amendment 2005) Packaging 
Government Procurement Act (Cap. 120 a nd Amendment 2004) Government procurement 
Public Utilities Act (Cap. 261 and Amendment 2007);  Gas Act (Cap. 116A and 
Amendment 2007);  Electricity Act (Cap. 89A and Amendment 2006) Public utilities 
Competition Act 2004 (Cap. 50B and Amendment 2007) Competition law  
Media Competition Code 2003 Media 
Revision of Telecoms Competition Code 200 5;  Telecommunication Act (Cap.323 and 
Amendment 2005) Telecoms 
Banking Act (Cap. 19 and Amendment 2007);  Deposit Insurance Act (Cap. 77A and 
Amendment 2006);  Securities and Futures Act (SFA) (Cap. 289 and Amendment 
2005);  Trust Companies Act 2006 (Cap. 336 and Amendment 2007);  Business Trusts Act (Cap. 31A and Amendment 2007);  Financial Advisors Act (Cap. 110 and 
Amendment 2007);  Securities and Futures Act (Cap. 289 and Amendment 2007) Financial services 
Broadcasting Act (Cap. 28 and Amendment 2005) Broadcasting 
Postal Services Act (Cap. 237A and Amendment 2007) Postal services 
Free Trade Zones Act (Cap. 114) Free-trade zones in Singapore 
Trade Disputes Act (Cap. 331) Trade disputes 
Source:  Government of Singapore. WT/TPR/S/202 Trade Policy Review 
Page 118 
 
 
Table AII.2 
Status of selected notifications to the WTO, January 2004 to January 2008  
WTO Agreement Description of requirement Periodicity Document symbol of most recent 
notifications and date 
Agreement on Implementation of GATT Article VI of the GATT 1994 (Anti-dumping)   
Article 18.5 Laws and regulations Once by March 
1995, then changes G/ADP/N/1/SGP/2/Suppl.1,  
13 May 1997 
Articles 16.4 and 25.11 Anti-dumping actions ta ken Semi-annual G/ADP/N/ 105/SGP, 21 August 2003 
G/ADP/N/112/Add.1, 13 April 2004  
Article 16.5 Notification of domestic procedures 
and authorities competent to initiate 
and conduct investigations Once, then changes G/ADP/N /14/Add.17, 7 October 2003 
Agreement on Agriculture   
Articles 10 and 18.2  Export subsidies (outlays and 
quantities) Annual G/AG/N/SGP/17, 24 January 2007 
Article 18.2 Domestic support  A nnual  G/AG/N/SGP/16, 16 January 2007 
Agreement on Import Licensing Procedures   
Articles 1.4(a) and 
8.2(b) Laws and regulations relevant to 
import licensing Once, then changes G/LIC/ N/1/SGP/4, 24 September 2004 
Article 5.1 Notification of licensing procedures 
and changes Within 60 days of 
publication of the 
changes G/LIC/N/1/SGP/4,  24 September 2004 
Article 7.3 Questionnaire;  rules and information 
concerning procedures for the 
submission of applications Annual for 
questionnaire; for 
rules and 
information, once 
then changes G/LIC/N/3/SGP/5, 23 November 2006 
General Agreement on Tariffs and Trade (GATT) 1994   
Article XXVIII:5 Modification of schedule  G/MA/108, 29 May 2000 
Article XVII:4(a) – 
Understanding on the 
Interpretation of 
Article XVII) Notification of products traded by state 
enterprises Once, then changes G/STR/ N/11/SGP, 5 September 2007 
General Agreement on Trade in Services   
Article XXIV:7(a) of 
GATT 1994 and GATS 
Article V Notification of free-trade agreements Once, th en changes WT/COMTD/51/Add.6, 16 October 2007 
WT/REG140;  S/C/N/206/Add.1, 
19 September 2007 
WT/REG229;  S/C/N/394, 21 May 2007 
WT/REG228;  S/C/N/393, 4 May 2007 WT/REG227;  S/C/N/392,4 April 2007 
WT/REG215/1, 4 January 2007 
WT/REG148/M/3, 27 July 2006 WT/REG215;  S/C/N/370,12 July 2006 
WT/REG210/2, 3 July 2006 
WT/REG229;  S/C/N/394,18 May 2006 WT/REG210;  S/C/N/363, 24 February 2006 
Agreement on Subsidies a nd Countervailing Measures   
Article 32.6 Laws and regulations  Once by March 
1995, then changes G/SCM/N/1/SGP/2/Suppl.1,  
13 May 1997 
Article 25.11 Countervailing duty actions taken Semi-annual and 
when measure taken G/SCM/N/98/Add.1, 20 October 2003 
Article 25.1 Subsidies programme s Annual G/SCM/N/123/SGP/Add.1 
28 July 2006 
Article 25.12 Notification of domestic procedures 
and authorities competent to initiate 
and conduct investigations Once, then changes G/SCM/N/18/Add.23, 24 April 2007 
Table AII.2 (cont'd) Singapore WT/TPR/S/202 
 Page 119 
 
 
WTO Agreement Description of requirement Periodicity Document symbol of most recent 
notifications and date 
Agreement on Safeguards   
Article 12.6 Laws and regulations Once by March 
1995, then changes G/SG/N/1/SGP/1, 12 May 1995 
Pre-existing Article XIX 
measures   G/SG/N/2/SGP;  G/SG/N/3/SGP 
12 May 1995 
Agreement on the Application of Sanitary and Phytosanitary Measures   
Article 7, Annex B Notification of changes in sanitary and 
phytosanitary measures Ad hoc G/SPS/N/SGP/35, 7 May 2007 
Paragraph 3, Annex B Enquiry point Once,  then changes G/SPS/ENQ/22, 9 October 2007 
Agreement on Technical Barriers to Trade (TBT)   
 Standardizing bodies that have 
accepted the code of good practice Once, then changes G/TBT/CS/2/Rev.13, 2 March 2007 
 Enquiry points Once, then changes G/TBT/ENQ/30, 22 June 2007 
Article 15.2 Implementation and administration of 
the Agreement Once, then changes G/TBT/2/Add.25, 29 October 1996 
Article 10.6 Information about technical 
regulations, standard s and conformity 
assessment procedures Ad hoc G/TBT/N/SGP/3, 16 May 2007 
Article 10.7 Agreement reached with another 
country Once, then changes G/TBT/10.7/N/45, 17 July 2003 
Agreement on Textiles and Clothing   
Articles 2.8 and 2:11 Notification of programmes of 
integration 12 months before 
their coming into 
effect G/TMB/N/98/Corr.1, 29 June 1995 
Article 6.1 Transitional safeguard measures Within 60 days of 
entry into force of 
the WTO G/TMB/N/98/Corr.1, 29 June 1995 
Agreement on Trade-Rela ted Investment Measures   
Article 6.2 Publications in which TRIMs may be 
found Once, then changes G/TRIMS/N/2/Rev.11, 24 September 2003 
Article 5.1 Investment measures Once by March 
1995, then changes G/TRIMS/N/1/SGP/1, 22 October 1996 
Agreement on Trade-Related Aspects of Intellectual Property Rights   
Protocol amending the 
TRIPS Agreement adopted 6 December 
2005 Acceptance of Protocol Once WT/Let/594, 28 September 2007and 
IP/C/W/490/Rev.1, 19 October 2007  
Article 63.2 Laws and regulations Once, th en changes IP/N/1/SGP/C,G,L,P,T and U 
14 March 2000 
Article 69  Contact points  Once, then changes IP/N/3/Rev.7, 19 August 2003 
IP/N/3/Rev.6, 1 March 2002 
 Checklist of issues on en forcement Once the TRIPS 
Agreement comes 
into force IP/N/6/SGP/1, 3 March 2000 
Source : WTO Central Registry of Notifications. WT/TPR/S/202 Trade Policy Review 
Page 120 
 
 
Table AIII.1 
GST relief schemes 
GST relief scheme Who is it for Benefits Considerations 
1. Major Exporter Scheme 
(MES) Businesses with substantial 
imports and exports of 
goods. The GST payable at the point 
of importation of goods is 
suspended. Subject to the satisfaction of certain 
conditions including the requirement 
that zero-rated supplies (i.e. export of 
goods and international services) must account for at least 51% of total 
supplies.   
The MES status is subject to renewal 
every three years 
2. Zero GST Warehouse Scheme (ZGS) Traders of commodities 
that are traded repeatedly 
before being re-exported. 
Exporters using Singapore 
as a hub. 
Local distributors who 
wish to defer GST on 
imported goods until they are released locally. 
Service warehouses, which 
have customers of the 
above categories The GST payable is suspended 
when goods are imported into 
the ZG Warehouse. 
GST is also suspended for 
goods traded within ZG 
Warehouse, or transferred from 
one ZG Warehouse to another. 
Further suspension of GST 
when goods are removed from 
ZG Warehouse by MES traders 
or Approved 3PLCs. Goods stored in ZG Warehouse can 
only undergo simple processes which 
do not alter the original characteristics of the goods. 
Subject to annual licence fees. 
3. Approved Third Party 
Logistics Company Scheme (3PL) Logistics companies 
providing valued-added activities for overseas 
principals using Singapore 
as a logistics hub and supplying inventory to 
customers in Singapore. The GST payable is suspended 
at the point of importation of goods. 
GST is also suspended when 
goods are removed by MES 
traders and other Approved 3PLs. The Approved 3PL is relieved from 
the hassle of having to declare permits on every movement of goods (unlike 
the ZGST Warehouse Scheme) as it is 
expected that high standards of warehousing controls and records on 
movements of goods are in place. 
4. Approved Contract Manufacturer and Trader 
Scheme (ACMT) Local contract 
manufacturers or other 
traders who perform value-added activities (i.e. 
treating and processing of 
goods) on goods consigned by overseas clients. Relieves local contract 
manufacturers/traders from 
imposing GST on finished goods delivered locally on 
behalf of the overseas clients.  
No GST applicable on the 
processing fees charged by the 
local contract 
manufacturers/traders to 
overseas clients. For the ACMT Scheme to operate, all 
other parties in the chain of value-
added activities must be GST-registered and be approved under the 
ACMT Scheme.  
The ACMT status is subject to 
renewal every three years. 
5. Approved Marine Fuel 
Trade Scheme (Approved 
MFT Scheme) Qualifying businesses in 
the bunkering industry 
holding valid bunkering 
licences from the MPA. No GST is chargeable on the 
purchase of approved marine 
fuel oil by Approved MFT 
businesses This scheme is only limited to the 
bunkering industry. 
The Approved MFT status is subject 
to renewal every three years. 
Source:  Ernest and Young (2007), Singapore Budget 2007 Synopsis,  p. 43.  Viewed at:  http://www.ey. 
com/global/download.nsf/Singap ore/Singapore_Budget_2007_Synopsis/$file/Singapore%20Budget%202007% 
Synopsis_locked.pdf. Singapore WT/TPR/S/202 
 Page 121 
 
 
Table AIII.2 
Import prohibitions by product, 2007 
Products Purpose Status in 2007 
Chewing gum Public safety Pa rtially removed, permitting the 
use of chewing gum for therapeutic 
use, as of January 2004 under the US-Singapore FTA 
Cigarette and table lighters in the shape of a pistol or 
revolver Public safety Unchanged 
Fire-crackers Public safety Unchanged 
Medicines containing ami dopyrine, noramidopyrine, 
amygdalin, danthron, panga mic acid and suprofen Public health Unchanged 
Volcanic rock aggregates not exceed ing 40 mm. Public safety Removed  
Persistent organic pollutants such as Aldrin, Chlordane, 
Dieldrin, DDT, Endrin, Hept achlor, Hexachlorobenzene, 
Mirex, PCB and Toxaphene Environment Changed to include other POPs 
controlled under the Stockholm 
Convention 
Asbestos brake and clutch linings in vehicles registered after 1 April 1995 Environment Unchanged 
Used motor vehicles more than three y ears old To minimize traffic congestion and 
pollution Unchanged 
Certain ozone-depleting substances meant for local 
distribution/consumption 
- Halon 1211 and five exti nguishers using halon 1211 
- Halon 1301 and fire protec tion systems using halon 
 1301 - Halon 2402 - Carbon tetrachloride 
- 1, 1, 1 – trichloroethane (methyl chloroform) 
- CFCs 11, 12, 113, 114, 115 as a refrigerant in new  air-conditioning and refrigeration equipment except 
 for automotive air-conditioners in vehicles 
 registered before 1 January 1995 and domestic  refrigerators 
- Other CFCs 
- Hydrobromofluorcarbons (HBFCs)  Protecting ozone layer (in 
accordance with the Montreal 
Protocol on Substances that Deplete 
the Ozone Layer) Unchanged  
Commercial import of all endangered species listed under 
Appendix I of CITES Preventing extinction (CITES)a Unchanged 
Cosmetics containing prohib ited substances/additives 
above the stipulated limits Public health Unchanged 
Controlled telecommunications equipment such as 
scanning receivers, military communication equipment 
and automatic call diverters National security Unchanged  
Asbestos in the form of crocidolite, amosite and 
amphiboles and products cont aining these forms of 
asbestos Environment Unchanged  
Asbestos in the form of chry sotile use as roofing sheets, 
refuse chutes, ceiling board s, partition boards, fire 
barriers, doors, paints, cement, floor tiles and putty Environment Unchanged  
Chlorofluorocarbons in aerosol products except medical 
aerosols Environment Unchanged 
Table AIII.2 (cont'd) WT/TPR/S/202 Trade Policy Review 
Page 122 
 
 
Products Purpose Status in 2007 
Hazardous industrial chemicals and pesticides controlled 
under the Rotterdam Convention such as Binapacryl, 
Captafol, Chlordimeform, Chlorobenzilate, Dinoseb and 
dinoseb salts, DNOC and its salts (such as ammonium salt, potassium salt and sodi um salt), 1,2-dibromoethane 
(EDB), Ethylene dichloride, Et hylene oxide (for pesticide 
use), Fluoroacetamide, HCH (mixed isomers), Lindane, Mercury compounds including inorganic mercury 
compounds, alkyl mercury compounds and alkyloxyalkyl 
and aryl mercury compounds for pesticide use, Pentachlorophenol, 2,4,5-T, Dustable powder formulations containing a combination of pesticides: 
benomyl at or above 7%, carbofuran at above 10%, thiram 
at or above 15%, Meth amidophos (Soluble liquid 
formulations of the substance that exceed 600 g active 
ingredient/l), Methyl-parathion (emulsifiable concentrates 
(EC) with 19.5%, 40%, 50%, 60% active ingredient and dusts containing 1.5%, 2% and 3% active ingredient), 
Monocrotophos (all formulations), Parathion (all 
formulations - aerosols, dustable powder (DP), emulsifiable concentrate (EC), granules (GR) and 
wettable powders (WP)  - of this substance are included, 
except capsule suspensions (CS)), Phosphamidon (Soluble liquid formulations of the substance that exceed 1,000 g 
active ingredient/l), PBB, PCT,  Tris (2,3-dibromopropyl) 
phosphate, Tetraethyl lead, Tetramethyl lead and Parathion Environment Added to include other hazardous 
industrial chemicals and pesticides 
controlled under the Rotterdam 
Convention 
Plants of rubber, cocoa, coconut and oil palm from 
Central and South America a nd West and Central Africa To ensure plant health Unchanged 
a The Endangered Species (Import and Expor t) Act 2006 was amended with enhanced  enforcement powers and higher penalties 
for smuggling endangered species. 
Source:  Singapore authorities.  
 Singapore WT/TPR/S/202 
 Page 123 
 
 
Table AIII.3 
Import prohibitions and restrictions by country 
Name of amendment law or regulations Date in fo rce Brief description of key amendments/regulatory 
developments 
S266/2007 - Regulation of Imports and Exports (Amendment No. 2) Regulations 2007  15 June 2007 Came into operation to prohibit the importation from Iran, arms 
and related materials, pursuant to UNSC Resolution 1747 
(2007). 
S54/2007 - Regulation of Imports and Exports 
(Amendment) Regulations 2007  9 February 2007 Came into operation on to implement certain prohibitions 
pursuant to UNSC Resolution 1737 (2006) on Iran.  The 
Regulations prohibit the importa tion from Iran, exportation and 
bringing in transit of goods and related technology to Iran 
which could contribute to Iran's enrichment-related, 
reprocessing or heavy water- related activities or to the 
development of nuclear weapon delivery systems. 
S706/2006 - Regulation of Imports and 
Exports (Amendment No. 4) Regulations 2006  1 January 2007 Came into operation on to implement certain prohibitions 
pursuant to UNSC Resolution 1718 (2006) on the Democratic 
Peoples' Republic of Korea (DPRK).  The Regulations prohibit 
the importation from (DPRK), exportation and bringing in 
transit of goods to the DPRK: 
(a) battle tanks, armored combat vehicles, large calibre 
artillery systems, combat aircraft, attack helicopters, 
warships, missile or missile systems;  
(b) any related materials of the above items; (c) any item, material, equi pment, goods and technology 
related to nuclear programmes, ballistic missile 
programmes and other wea pons of mass destruction 
programmes. 
Source:   Singapore Customs. WT/TPR/S/202 Trade Policy Review 
Page 124 
 
 
Table AIII.4 
Products covered by automatic and non-automa tic import licensing, status November 2006, 
Product Laws and regulations authorizing import 
licensing Controlling agency 
Automatic import licensing   
Fresh fruits, vegetables, plants and plant 
products (other than those from the 
American Tropics) Control of Plants Act 
Fish and fish products (except oysters, 
frozen cooked crabmeat, frozen cooked 
prawn meat and frozen blood cockle meat) Wholesome Meat and Fish Act 
Animal feed, milk powder – skimmed 
(coloured for animal feed) Animal and Birds Act and Feeding Stuffs 
Act Agri-Food and Veterinary Authority 
(AVA), Ministry of National 
Development (MND) 
Veterinary medicaments Medicines Act 
Tobacco products and related 
advertisements Smoking (Control of Advertisements and 
Sale of Tobacco) Act and its Regulations Health Sciences Authority (HSA) 
Films, video tapes a nd video discs Films Ac t and its Regulations 
Publications, gramophone records, 
paintings and prints Undesirable Publications Act Media Development Authority, Ministry 
of Information, Communication and the 
Arts (MICA) 
Mastering equipment and replication equipment for any of the following: 
- CD (compact disc); 
- CD-ROM (compact disc-read only  memory) 
- VCD (video compact disc); 
- DVD (digital video disc);  and - DVD-ROM (digital video disc-read 
 only memory) Regulation of Imports and Exports 
Regulations Singapore Customs 
Biological agents that are capable of 
causing death, disease or other biological 
malfunction in a human  
Certain microbial toxins Biological Agents and Toxins Act Biosafety Branch, Ministry of Health 
Non-automatic import licensing   
Artificial sweetening agents, food 
containing artificial sweetening agent(s), 
and irradiated food Food Regulations 
Specific plants, plant products and other 
materials (insects, micro-organisms and 
soil) Control of Plants (Plant Importation) Rules 
Endangered species of wild fauna and 
flora (CITES products) Endangered Species (Import and Export) 
Act AVA, Ministry of National Development 
(MND) 
Fruit or jackpot machines Regulation of Imports and Exports 
Regulations 
Arms, explosives and explosive precursors, swords, daggers, bayonets, spears, spearheads,  nitro-cellulose Arms and Explosives Act 
Handcuffs 
Articles of clothing intended as protection 
against attack, including bullet-proof vests 
Steel helmets 
Toy guns, including pistols and revolvers 
Amusement machines, coin- or disc-operated, including pintables, shooting 
galleries, and cinematography machines Regulation of Imports and Exports 
Regulations Licensing Division, Singapore Police 
Force, Ministry of Home Affairs 
Table AIII.4 (cont'd) Singapore WT/TPR/S/202 
 Page 125 
 
 
Product Laws and regulations authorizing import 
licensing Controlling agency 
Hazardous substances Environmental Pollution Control Act and 
Environmental Pollution Control 
(Hazardous Substances) Regulations 
Ozone-depleting substances (ODS) and 
products containing ODS such as the 
following: 
- fire extinguishers and fire protection 
 systems using halon; - air-conditioning and refrigeration 
 equipment using 
 Chlorofluorocarbons (CFCs);  - vehicles with air-conditioners 
 containing CFCs. Environment Pollution Control Act and 
Environment Pollution Control (Ozone 
Depleting Substances) Regulations 2000 Pollution Control Department, National 
Environment Agency (NEA) 
Petroleum and flammable materials Fire Safety Act and Fire Safety (Petroleum 
and Flammable Materials) Regulation Singapore Civil Defence Force, MHA 
Radioactive materials and irradiating 
apparatus Radiation Protection Act and its Regulations Centre for Radiation Protection, Health 
Sciences Authority (HSA) 
Medicines 
Chinese proprietary medicines 
Category 1 cosmetic products Medicines Act and rela ted regulations and 
orders for medicines, Chinese proprietary 
medicines and Category 1 cosmetic products 
Poisons/drugs Poisons Act and the Misuse of Drugs Act Centre for Pharmaceutical Administration, 
HSA 
Controlled telecommunication equipment Telecommunications (D ealer's) Regulations Infocomm Development Authority (IDA) 
Scheduled chemicals under the Chemical 
Weapons Convention (CWC) Chemical Weapons (Prohibition) Act National Authority (CWC) 
Rice Price Control (Rice) Order International Enterprise Singapore (IE 
Singapore) 
Poppy seeds (kaskas) Regulation of Imports and Exports 
Regulations 
Controlled equipment, materials or 
substances used for the manufacturing of 
controlled drugs Misuse of Drugs Regulations Central Narcotics Bureau, MHA 
Merchandise/products containing a 
photograph, drawing or design resembling 
or used in/on Singapore currency notes 
and coins Currency Act Monetary Authority of Singapore (MAS), 
Ministry of Finance 
Rough diamonds Regulation of Imports and Exports 
(Kimberley Process) Regulations Singapore Customs 
Source: Singapore authorities;  and WTO document G/LIC/N/3/SGP/5, 23 November 2006. WT/TPR/S/202 Trade Policy Review 
Page 126 
 
 
Table AIII.5 
Legislation in the area of SPS regulations and la belling, since 2004 
Name of legislation Date of amendment Description 
Food Regulations 1 September 2006 The Food Regulations was am ended to remove the Certificate of Age 
(COA) requirement for brandies a nd whiskies on 1 September 2006.  
Importers of brandies are not required to show certificate of age to prove 
that their products are authentic.  Cha nges facilitate the trade particularly 
for importers who obtain their produc ts from third parties and have 
difficulties to get the certificate of age. 
Control of Plants 
(Phytosanitary Certification) 
Rules 1 June 2005 The Control of Plants (Phytosan itary Certification) Rules was amended to 
accommodate the new International standard for the inspection and 
certification work that defined by IPPC under ISPM 12. 
Rules provide for accreditation of expor ters and self-regulation of export 
health standard. 
Control of Plants (Plant 
Importation) Rules 25 April 2005 The Control of Plants (Plant Im portation) Rules was amended to provide for 
the use of import risk analysis as the means of developing import health 
standards for the import of various commodities and living organisms.  
The Rules also apply consistent phytosanitary import measures world-wide 
by removing the existing exemption gi ven to import of plants and plant 
products from Peninsular Malaysia.  In clude plants that have acquired novel 
genetic material by the technique s of modern biotechnology to be 
controlled. This enables AVA to take control measures should there be any outbreak of 
pests and diseases in the Malaysia  and allow updating requirements based 
on science.  Control invasive species as well as GM plants. 
Control of Plants (Registration of Pesticides) Rules 1 July 2004 The Control of Plants (Registration of Pesticides) Rules was amended to 
update registration requirements by  prohibiting the distribution of 
unregistered pesticide and the use of pe sticide registration mark stickers as 
they may subject to fraud.  The pr ovisions relating to AVA's obligations 
under the USSFTA were also included in the Rules. 
Endangered Species (Import 
and Export) Act 2006 1 March 2006 The Endangered Species (Impor t and Export) Act 2006 was amended with 
enhanced enforcement powers a nd higher penalties for smuggling 
endangered species.  
Fisheries (Fishing Vessels) Rules 1 December 2004 The Fisheries (Fishing Vessels) Rules was amended to enable the fishing 
boat owners to self-regulate the sea wo rthiness of the fishing vessels.  AVA 
will licence the fishing vessels for its f itness for intended use, i.e. fishing. 
Animals and Birds (Care and 
Use of Animals for Scientific 
Purposes) Rules  15 November 2004 The Animals and Birds (Care a nd Use of Animals for Scientific Purposes) 
Rules was introduced to regulate the k eeping and treatment of animals used 
for animal experimentation and res earch, based on the guidelines set by 
National Advisory Committee for Laboratory Animal Research 
(NACLAR).  This legislation would allow AVA to license the research 
facilities in Singapore in order to ensu re an acceptable standard on the care 
and use of animals in such facilities.  
Weights and Measures Act and 
Regulations 2005 1 January 2006 (i) Introduces Authorised Verifi er (AV) Scheme, which permits designated 
private sector bodies by SPRING Si ngapore to handle verification of 
weighing and measuring instruments for trade use.  (ii) Deregulates mandatory licensing for manufacturers and repairers of 
weighing and measuring instrument s with introduction of AV Scheme. 
(iii) Introduces Average Quantity Syst em (AQS) for pre-packaged goods in 
accordance with international standards (OIML Recommendation). 
(iv) Introduces accuracy label on all verified weighing and measuring 
instruments for trade use. 
Source:  Data supplied by authorities from SPRING Singapore (Standards, Productivity and Innovation Board), Agri-food 
and Veterinary Authority. Singapore WT/TPR/S/202 
 Page 127 
 
 
Table AIII.6 
Exports subject to controls, September 2007  
Products Competent authority 
Animals Agri-Food and Veterinary Authority (AVA) 
Arms and explosives, articles of  clothing intended as protection 
against attack, including bullet-proof vests Arms and Explosives Licensing Division (A&E), Singapore 
Customs 
Explosive Precursors A&E 
Chemicals 
(a) Toxic and precursers 
(b) Pesticides  
National Authority (Chemicals Weapons Convention) (NA CWC) 
Pollution control department (PCD) 
Chlorofluorocarbons (CFCs) Pollution control department (PCD) 
Rough diamonds Singapore Customs 
Strategic Goods Singapore Customs 
Fish and fish products (inc luding fin fish, crustaceans and 
molluscs) Agri-Food and Veterinary Authority (AVA) 
Handcuffs A&E 
Halons Pollution control department (PCD) 
Steel helmets A&E 
Irradiating apparatus Centre for Radiation Protection (CRP) 
Meat and meat products Agri-Food and Veterinary Authority (AVA) 
Military equipment Singapore Customs 
Precurser chemicals Centra l Narcotics Bureau (CNB) 
Radioactive materials Centre for Radiation Protection (CRP) 
Rice (excluding rice bran) IE Singapore 
Rubber IE Singapore 
Singapore made textiles, garments  and textile exports for export 
to Canada, the EU or the United States Singapore Customs 
CITES Specimens  Agri-Food and Veterinary Authority (AVA) 
Toy guns, pistols and revolvers A&E 
Waste lead-acid batteries and waste batteries made with lead, 
cadmium or mercury Pollution control department (PCD) 
Note: Exports of, inter alia , military equipment are prohibited to Afghanistan, Co te d'Ivoire, D.R. Congo, Iraq, Liberia, Rwanda, 
Sierra Leone, Somalia, Sudan, DPR Korea, and Iran. 
Source:  Singapore Customs online information.  Viewed at:  http:// www.tradexchange.gov.sg/txwebp/pfk/PfkMainServlet? 
pContents=/forward.jsp [25 September 2007]. WT/TPR/S/202 Trade Policy Review 
Page 128 
 
 
Table AIII.7 
Tax incentives 
Type  Application 
to:  Requirement  Incentives  Relief period  
Pioneer Enterprise  EDB The project introduces technology, 
know-how or skills into an industry which is substantially more 
advanced than that  of the average 
level prevailing in that industry. 
Most projects can be considered 
unless products are already manufactured locally without tax incentives. Tax exemption on 
qualifying profits Up to 15 years 
depending on the merits 
of the project e.g. type 
of product, investment level, skills, gestation period, technology, etc. 
Approved Royalties 
Incentive (ARI) EDB (i) For the transfer of technology or 
know-how and covers royalty 
payments, technical assistance 
fees and contributions to R&D 
costs.  
(ii) A company granted ARI will be 
exempted either partially or fully 
the withholding tax liability of 10% or reduced DTA rate, on the 
royalty payments paid to the 
overseas recipient. Full or partial exemption 
on withholding tax on 
royalty payments to 
non-residents For the duration of the 
agreement 
Approved Foreign Loan (AFL) Incentive EDB (i) Loan must be of a minimum 
amount of S$200,000 and the 
credit facilities are granted for 
the purchase of productive 
equipment;  and 
(ii) Lender is a non-resident person 
and the relief from Singapore tax 
will not increase his liability in 
his country of residence.  Full or partial exemption 
on withholding tax on 
interest payments to 
non-residents Indefinite until the loan 
is repaid 
Development and Expansion Incentive EDB Approved companies engaged in: 
(i) manufacturing or increased 
manufacturing of any product 
that would be of economic 
benefit to Singapore;  or 
(ii) same qualifying activities as 
pioneer service companies. Tax rate as low as 5% Up to 10 years with 
provision for 
extensions up to a 
maximum total relief 
period of 20 years 
Investment Allowance EDB (i) Companies engaged in approved 
qualifying activities which 
include:  
 (a) manufacturing and 
specialized engineering or technical services activities;  
 (b) research and development 
activities;  
 (c) construction operations;  
 (d) projects for reducing 
consumption of water;  
 (e) qualifying activities same as 
those of pioneer services companies; 
 (f) projects for promotion of 
tourist industry (other than a 
hotel) in Singapore;  and  
 (g) satellite operations. Tax exemption on 
chargeable income equal to 
approved percentage not exceeding 100% of the 
capital expenditure 
incurred on:  
(a) plant and machinery; (b) factory building;  
(c) acquisition of know-
 how or patent rights; 
(d) efficient water 
 recycling plant;  and 
(e) satellite Indefinite until 
allowance is used up 
Table AIII.7 (cont'd) Singapore WT/TPR/S/202 
 Page 129 
 
 
Type  Application 
to:  Requirement  Incentives  Relief period  
  (ii) Investment must be made within 
the stipulated qualifying period, which should not exceed 
five years from investment day [or 10 years from investment day for item (f)]. Withholding tax 
exemption on lease 
payment to non-resident 
satellite owners Up to 10 July 2012 
  (iii) There is no minimum 
investment requirement. 
(iv) The asset for which the 
incentive has been granted 
cannot be disposed of within the 
qualifying period and two years 
thereafter, without the approval 
of the Minister.   
Investment Allowance 
for Flagship Concepts  STB Investments in flagship concept 
projects in retail, food & beverage 
and entertainment. Tax exemption on 
chargeable income equal to 30% of the capital 
expenditure incurred on:  
(a) specialized or high-tech 
equipment;  
(b) leasehold improvement 
items For projects approved 
from 1 April 2005 to 
31 March 2010 
Pioneer Service Companies EDB  Companies engaged in qualifying 
activities which include: 
(i) any engineering or technical 
services including laboratory, 
consultancy and research and 
development activities;  
(ii) computer-based information and 
other computer related services;  
(iii) the development or production 
of any industrial design;  and  
(iv) such other services or activities 
as may be prescribed. Tax exemption on 
qualifying profits Up to 15 years 
Headquarters (HQ) 
Programme  
- Regional 
Headquarters (RHQ) 
Award EDB (i) Well-established company 
undertaking substantial level of headquarters activities in 
Singapore, and  
 (a) it is the nerve centre in terms 
of organization reporting 
structure at senior 
management levels, and has 
clear-cut management and control over its principal activities;  
 (b) its personnel for the 
headquarters operations (including management, 
professionals technical personnel and supporting staff) are based in Singapore. 15% tax on incremental 
qualifying income 3 years with provision 
for extension for an 
additional 2 years 
  (ii) The company must:  
 (a) increase its paid-up capital to 
at least S$0.2 million and S$0.5 million at the end of 
year 1 and year 3 of the incentive period, respectively;   
Table AIII.7 (cont'd) WT/TPR/S/202 Trade Policy Review 
Page 130 
 
 
Type  Application 
to:  Requirement  Incentives  Relief period  
   (b) perform a minimum of 
3 qualifying headquarters services to network entities in 
3 countries outside Singapore by the end of year 1 of the incentive period;  
 (c) employ at least 75% skilled 
workers throughout the 
incentive period; 
 (d) employ at least 10 
additional* professionals 
based in Singapore;   
   (e) incur an average 
remuneration per worker of  S$100,000 per annum for the 
top 5 executive designation 
by the end of year 3 of the 
incentive period;  
 (f) incur at least an additional* 
$2 million in annual business spending in Singapore;  and  
 (g) incur at least an additional** 
S$3 million in business spending cumulatively for the entire incentive period.   
 * The level at Year 3 – Year 0 
** (Total for Years 1 to 3) – 
(3 x Year 0)   
- International 
Headquarters (IHQ) Award   Companies that commit to 
substantially exceed the minimum criteria for the RHQ Award. 0%, 5% or 10% tax on 
qualifying income. (Tax 
rates customized based on 
commitment level and considered in discussion with EDB.) 5 to 20 years 
Approved International 
Shipping (AIS) 
Enterprise MPA International shipping companies 
(Singapore resident) with substantial operations and have  concrete business plans to expand their operations in Singapore. Tax exemption on:  
(a) qualifying shipping 
 income;  
(b) dividends from 
 approved subsidiaries 
 and associated 
 shipping companies 10 years with 
possibility to apply for extension for 10 year 
incentive periods up to 
a maximum total of 
30 years 
Proceeds from sale of vessels  MPA AIS companies or Singapore 
Registered vessels  Tax certainty that proceeds 
from sale of vessels are 
treated as capital gains and 
hence not subjected to tax 5 years (YA 2005 to 
YA 2009) 
Foreign exchange and derivative gains  MPA AIS companies or Singapore 
Registered vessels  Foreign exchange and 
derivative gains of Singapore-flagged vessels and AIS companies will be 
automatically regarded as 
shipping-related hedging gains and hence qualify for 
tax exemption 5 years (YA 2006 to 
YA 2010) 
Approved Shipping Logistics Scheme MPA Ship management companies, ship 
agencies and shipping related international freight forwarders and 
logistics operators that have concrete 
business plans to embark on an expansionary programme from 
Singapore. Tax rate of 10% on 
incremental qualifying income 
Tax exemption on 
dividend income received from approved network of companies 5 years with possibility 
for renewal for another 
5 years if qualifying 
criteria are met 
Table AIII.7 (cont'd) Singapore WT/TPR/S/202 
 Page 131 
 
 
Type  Application 
to:  Requirement  Incentives  Relief period  
Singapore Registry of 
Ships MPAa Vessels qualified for registration 
with the Singapore Registry of 
Ships.  Tax exemption on 
qualifying shipping 
income derived from Singapore registered vessels  Indefinite, for as long 
vessel remains as a 
Singapore registered 
vessel 
Freight Uplift MPAa Shipowners and charterers deriving 
income from uplift of freight from 
Singapore, excluding carriage 
arising solely from transhipment 
from Singapore. Tax exemption on income 
from uplift of freight from Singapore Indefinite 
Mega Tourism Events 
Incentive STB Event companies organizing or 
staging world-class events and 
activities that are of world-class production standards, strong brand equity and international stature.  10% tax on income 
derived from approved 
mega tourism events For tourism events 
approved from 
1 April 2005 to 
31 March 2010 
Global Trader Programme (GTP) IES (i) Companies carrying on the 
business of international trading 
of commodities, which:  
 (a) are established with 
worldwide network and good 
track record;  
 (b) have a significant amount of 
directly attributable total business spending in 
Singapore per annum and 
conducts a substantial 
volume of physical trade;  
 (c) employ a commensurate 
number of international 
traders in Singapore; 
 (d) contribute to manpower 
training and development of 
trading expertise in 
Singapore;  
 (e) make significant use of 
Singapore's banking, 
financial and other business 
services;  and 
 (f) support and make use of 
Singapore's trade 
infrastructure.  5% (w.e.f. 
28 February 2003) or 10% tax on qualifying income, 
depending on company's 
turnover and spending 5 years with provision 
for extension 
  (ii) High-growth, medium-sized 
trading companies (w.e.f. 
28 February 2003). 10% tax on qualifying 
income 3 years 
Approved Art and 
Antiques Dealers IES Approved art and antiques dealers 
transacting on behalf of non-residents. 10% tax on qualifying 
income  5 years with provision 
for extension 
Approved Cyber Trader 
(ACT) IES Qualifying company must:  
(i) be a well-established company 
incorporated in Singapore;  10% tax on qualifying 
income on qualifying 
products  5 years 
  (ii) use the Internet to conduct its 
international trading and 
marketing activities; 10% concessionary 
withholding tax on 
approved royalties  
  (iii) host its website and contents in 
Singapore;  
(iv) engage specified number of 
personnel to be based in 
Singapore;  and  
(v) other commitments or criteria 
specified by IES. Investment allowance of 
up to 50% of cost of 
qualifying new fixed 
capital expenditure  
Table AIII.7 (cont'd) WT/TPR/S/202 Trade Policy Review 
Page 132 
 
 
Type  Application 
to:  Requirement  Incentives  Relief period  
Enterprise Investment 
Incentive (EEI) 
[formerly known as the Technopreneur 
Investment Incentive 
(TII)] EDB/ 
SPRING (i) Company primarily engaged in 
innovative and high growth 
activities with substantial development contents in relation 
to specific product, process or 
service.  
(ii) Company must:  
 (a) be an unlisted company in 
initial years;  
 (b) have paid-up capital of at 
least S$10,000;  
 (c) be incorporated in Singapore;  
and  
 (d) conduct qualifying start-up 
activities wholly or mainly in 
Singapore. Deduction for losses 
incurred on disposal of 
qualifying shares / liquidation of the start-up company Up to 5 years 
  (iii) The investments must be:  
 (a) in the form of new ordinary 
shares (not replacement capital or debt instruments) issued and acquired by the 
investor (individual or 
corporate) during the start-
up's approved status;  
 (b) without any condition that 
would eliminate the investor's 
risk;  and  
 (c) at least S$1,000 per 
investment.   
  (iv) Overseas start-ups may be 
approved on a case-by-case basis provided that there is a 
significant link for Singapore to enjoy the economic spin-offs from their activities. As above, but confined to 
Singaporean/permanent 
resident investors  
Approved Investment 
Companies MOF Companies whose business is to 
invest in securities and the principal part of their income is derived therefrom. Proportion of gains subject 
to tax based on holding 
period of investments Indefinite 
Approved Holding 
Company (AHC) EDB Approved holding company must 
own at least 50% of the ordinary shares in approved subsidiary 
companies for a minimum period of 
18 months continuously:  
(i) immediately prior to the date of 
disposal of shares;  and  
(ii) from the date the company is 
granted approved holding 
company status to the date of 
disposal of shares. Gains from sale of shares 
in approved subsidiary companies will be treated 
as capital gains and not 
subject to tax 5 years with window 
approval period from 17 February 2006 to 16 February 2011 
Asset Securitization MAS Approved Special Purpose Vehicles 
(ASPVs) based in Singapore for 
asset securitization set up on or after 
27 February 2004.  
 Tax exemption for income 
derived from asset 
securitization 
arrangements.  Tax concessions for 
withholding tax, stamp 
duty and GST concession 
for qualifying transactions Transactions entered 
into between 
27 February 2004 and 
31 December 2008 
Table AIII.7 (cont'd) Singapore WT/TPR/S/202 
 Page 133 
 
 
Type  Application 
to:  Requirement  Incentives  Relief period  
Maritime Finance 
Incentive MPA Entities that have concrete business 
plans to use Singapore to develop 
their ship financing activities.   10% tax on qualifying 
income derived by 
Approved Ship Investment 
Managers 
Tax exemption for 
qualifying income from 
ship leasing activities derived by Approved Ship 
Investment Enterprises 10 years, with window 
application period from 
1 March 2006 to 
28 February 2011 
Fund Management MAS Qualifying funds (resident or non-
resident) must be managed and 
advised by a fund manager that is 
based in Singapore. Fund and qualifying 
investors will be tax 
exempted on their 
qualifying fund income 
Non-resident funds, if 
non-qualifying, may be 
eligible  for the  tax 
exemption during the first 12 months after their 
constitution of the fund if 
it is managed by a qualifying start-up fund 
manager  Not applicable for 
non-resident funds 
Indefinite for resident 
funds, with approval 
period from 17 February 2006 to 16 February 2011  
Start-up fund manager 
must be approved from the period 18 February 2005 to 17 February 2010 
CPF Approved Unit Trust MOF A unit trust, which is resident in 
Singapore. Tax exemption for:  
(a) gains on disposal of 
securities;  
(b) overseas interest 
income (if remitted); 
and  
(c) overseas dividend 
income (if remitted) Indefinite 
Designated Unit Trust IRAS A qualifying unit trust that is 
managed by an investment or fund 
manager in Singapore.  Specified income derived 
by a qualifying unit trust will not form part of its statutory income Indefinite 
Locally Administered 
Trust (i.e. Domestic 
Trust) MAS Qualifying local trusts and eligible 
underlying holding companies that are administered by a trustee company in Singapore.  Tax exemption for 
specified income that would have not been 
taxable if received directly 
by any individual  Indefinite 
Foreign Trust MASa Qualifying foreign trusts and eligible 
investment holding companies, 
which are administered by trustee 
companies in Singapore. Tax exemption on 
specified income from 
designated investments 
received by the foreign trust and Trustee 
companies under the 
Approved Trustee Scheme will be granted a tax concession on qualifying fee income Indefinite 
Foreign Charitable 
Purpose Trusts MASa Qualifying charitable purpose trusts 
that are created for prescribed 
purposes. Tax exemption on 
specified income from designated investments 
made by the trusts or its 
eligible holding companies Indefinite 
Table AIII.7 (cont'd) WT/TPR/S/202 Trade Policy Review 
Page 134 
 
 
Type  Application 
to:  Requirement  Incentives  Relief period  
Approved Venture 
Company EDB Venture capital funds or venture 
capital fund management companies 
must:  
(i) be incorporated and based in 
Singapore;  
(ii) have obtained the necessary 
approvals and licences from the 
MAS for their proposed 
activities;  
(iii) commit to invest a certain 
percentage of its subscribed funds in Singapore and seed-
stage and/or restart projects in 
Singapore;  and  Tax exemption on:  
(a) gains from disposal of 
approved local and 
overseas investments;   
(b) dividends from 
approved overseas investments;  and  
(c) interest income from 
convertible loan stocks 
Tax rate of not more than 
10% during extension 
period Up to 10 years with 
provision for extension 
  (iv) commit to employ a certain 
number of local venture capital 
professionals to manage the approved venture capital fund.   
Overseas Enterprise 
Incentive (OEl) IES (i) Companies which invest in 
approved overseas investments 
and projects.  
(ii) Investor companies must be:  
 (a) Incorporated and resident in 
Singapore for tax purposes;  and  
 (b) at least 50% owned by 
Singapore citizens or permanent residents of Singapore. Tax exemption on:  
(a) dividends from 
qualifying overseas 
investments;  
(b) Royalties from 
qualifying overseas projects; 
(c)  Interest income on 
shareholder loans to approved overseas projects; Up to 10 years 
  (d) Incremental income 
from the provision of support services 
within or outside of 
Singapore;  and 
(e) Overseas project 
income from other 
approved qualifying 
activities  
Financial Sector 
Incentive (FSI) Scheme  
Standard-tier (ST) 
Awards and Enhanced- 
Tier (ET) Awards MAS Companies carrying out the 
prescribed qualifying activities in 
the debt capital market, equity 
capital market, treasury, fund management and headquarter 
services will be eligible if they meet 
certain headcount, expertise and business spending requirements. 
Qualitative factors will also be 
considered.  Tax concessions on 
income derived from FSI-
ST (subject to a qualifying 
base, which will be taxed at the prevailing corporate 
tax rates) and FSI-ET 
qualifying activities Not more than 10 years, 
with approval period 
from 1 January 2004 to 
31 December 2008 
Securities Borrowing and Lending (SBL) MAS The company must be:  
(i) an FSI company;  or  (ii) a company registered with MAS. 10% tax on income from: 
(a) loan of all securities 
except unlisted 
Singapore shares;  and  
(b) arranging the loan of 
any securities except 
unlisted Singapore 
shares From 18 February 2005 
to 31 December 2008 
Table AIII.7 (cont'd) Singapore WT/TPR/S/202 
 Page 135 
 
 
Type  Application 
to:  Requirement  Incentives  Relief period  
Futures Members of the 
Singapore Exchange 
(SGX) MAS Company that is a futures member 
of the Singapore Exchange (SGX) 
transacting with  qualifying persons. 10% tax on income 
derived from transactions 
in gold bullion, commodity, petroleum 
financial futures and 
qualifying derivatives in any approved market with 
or derived from any 
foreign exchange with 
qualifying persons  Indefinite 
Offshore Commodity 
Futures Trading MAS Company must be a member of a 
prescribed Commodity Futures Exchange and transacting with qualifying persons. 10% tax on income 
derived from transactions in specified commodity futures contracts Indefinite 
Commodities 
Derivatives Market 
Incentive MAS/IES Qualifying financial institutions and 
companies. 5% concessionary tax rate 
on income from:  
(i) qualifying transactions 
in commodity 
derivatives or 
commodities in any currency with qualifying counterparties;  and  
(ii) income derived from 
qualifying exchange-traded commodities 
derivatives (w.e.f. 
18 February 2005). Up to 5 years beginning 
from on or before 26 February 2006.  
Approval period up to 
26 February 2009 
Clearing member of 
Singapore Clearing House  MAS Qualifying clearing members of a 
Singapore clearing house. 5% tax on qualifying 
income derived from the 
provision of over-the-
counter derivatives clearing services using a Singapore clearing house. Approval period valid 
from 17 February 2006 to 16 February 2011 
Finance and Treasury 
Centre (FTC) EDB Companies which provide 
prescribed finance and treasury services to related and associated 
companies outside Singapore and in 
Singapore (subject to a stipulated 
revenue ratio). Tax concession on income 
from the provision of qualifying services. 
Withholding tax 
exemption on interest from loans from outside Singapore. 5 to 10 years with 
provision for extension 
Insurance MAS Qualifying insurance companies 
which engage in the business of insuring and reinsuring offshore risks. 10% tax on qualifying 
income derived from carrying on an offshore insurance business 
Specifically, the tax 
concession will be 
extended to qualifying income from writing 
offshore and onshore 
marine hull and liabilities 
risks 
Tax deduction on special 
reserves set aside for 
certain offshore risks 
(w.e.f. YA 2003) Indefinite 
Tenure of concession 
up to 10 years 
Approval period from 
2 July 2002 to 1 July 2012.  Tenure of 
concession is up to 
10 years 
  Qualifying captive insurer. Tax exemption on 
specified income from 
qualifying activities 10 years, with 
qualifying window 
approval period from 17 February 2006 to 16 February 2011 
Table AIII.7 (cont'd) WT/TPR/S/202 Trade Policy Review 
Page 136 
 
 
Type  Application 
to:  Requirement  Incentives  Relief period  
Offshore Leasing  a Companies which engage in 
offshore leasing of machinery or 
plant. 10% tax on qualifying 
leasing income Indefinite 
Approved Aircraft 
Leasing EDB Company must:  
(i) be a reputable international 
aircraft operating lessor, which uses Singapore as an operating 
base;  
(ii) have annual total business 
spending in Singapore of at least 
S$4 million by the second year 
of operation and S$10 million 
by the fifth year;  and  
(iii) employ at least three 
experienced marketing and 
technical staff. 10% tax on qualifying 
income 
Tax exemption on interest 
payment for foreign loans taken up during relief period 
Depreciation period of 
aircraft extended to 20 years during relief period 5 years with provision 
for extension 
Provision of high-value 
added processing 
services supporting 
financial activities MAS Approved companies that provide 
prescribed processing services to 
financial institutions or another 
approved company.  Tax concession on income 
derived from the provision 
of prescribed processing 
services  
Bond Market Incentives MAS (i) Singapore Government 
Securities Income derived by 
primary dealers from trading in 
Singapore Government 
Securities. Tax exemption on trading 
income derived by primary dealers 9 years up to 
27 February 2008 
  (ii) Qualifying debt securities 10% concessionary tax on 
interest and discount 
income for resident 
persons 
Withholding tax 
exemption on interest and 
discount income for non-
residents 
Tax exemption for 
discount and interest 
income for resident 
individuals  In respect of qualifying 
debt securities issued 
within a 10-year period up to 31 December 2008 
Islamic Bonds a The Islamic bond must be a 
qualifying debt security is in 
compliance with Shariah principles and issued during the period from 
1 January 2005 to 
31 December 2008.  Same incentives as listed 
under bond market 
incentives relating to 
qualifying debt securities For payouts derived 
from Islamic bonds on 
or after 1 January 2005 
till 31 December 2008 
a No application required – Incentive to be claimed upon submi ssion of tax return/annual declar ation to the Inland Revenue 
Authority of Singapore. 
Note: EDB - Singapore Economic Development Board;  IES - Intern ational Enterprise Singapore;  MAS - Monetary Authority of 
Singapore;  MOF - Ministry of Finance;  MPA - Maritime and Port Authority of Singapore;  SPRING - Standards, Productivity 
and Innovation Board;  STB - Singapore Tourism Board. 
Source: Singapore authorities. Singapore WT/TPR/S/202 
 Page 137 
 
 
Table AIII.8 
Non-tax assistance for industrial develo pment (administered by EDB and SPRING)  
Scheme Eligibility Assistance 
Economic Development 
Board (EDB)   
Innovation Development 
Scheme Singapore-registered businesses 
and organizations Grants support for qualifying costs incurred in the innovation of 
products, processes and applicati ons and developing depth in 
innovation capabilities 
Initiatives in New Technologies Singapore-registered businesses 
and organizations Grants support for qualifying costs incurred in manpower 
development in the application of new technologies, industrial 
R&D and professional know-how 
Research Incentive Scheme for Companies Singapore-registered businesses 
and organizations Grants support for qualifying costs incurred in the development of 
R&D capabilities in the areas of strategic technologies 
Local Industry Upgrading 
Program  Singapore-registered businesses 
and organizations Assistance in defraying manpower costs incurred in providing 
expertise to local suppliers looking to upgrade their capabilities and 
service standards to meet intern ational sourcing requirements and 
standards 
Locally based Enterprise Advancement Program  Singapore-registered businesses 
and organizations Assistance in defraying manpower costs incurred in providing 
expertise to local suppliers looking to expand their market channels 
Patent Application Fund Plus Singapore-registered businesses 
and organizations Grants support for patent application cost in order to promote 
pervasive innovation and encourage greater commercialization 
activities 
Regionalisation Training 
Scheme Singapore-registered businesses 
and organizations Fixed grant support to assist Singapore companies in the training of 
foreign workers for their overseas operations 
Technology for Enterprise 
Capability Upgrading Local enterprises with fixed 
productive assets of not more than S$15 million;  if in the 
services sector, with less than 
200 employees Assistance in defraying manpower costs incurred by local 
enterprises in the engagement of research scientists and engineers 
from public sector research institutes for R&D or innovation 
projects 
Resource Productivity Scheme Singapore-registered businesses 
and organizations Fixed rate loans to partially fi nance equipment cost incurred in 
systems that enhance the utilization of scare resources such as 
labour, water and land 
Capital Assistance Scheme Qualifying machinery and 
equipment used by small and 
medium-sized firms in mechanization and automation 
with a quality above the 
industry norm. Preferential interest rate  on qualifying loan amount 
Regionalization Finance 
Scheme  Local enterprises with fixed 
productive assets of not more 
than S$30 million;  if in the services sector, with less than 
200 employees Fixed interest financing to assi st local enterprises to set up 
operations overseas 
Standards, Productivity 
and Innovation Board 
(SPRING)   
Local Enterprise Finance 
Scheme (LEFS)  To be eligible, a company must 
satisfy the following conditions:
- At least 30% local equity 
- Fixed assets (defined as net book value of factory building, machinery and equipment) not 
exceeding  S$15 million
a 
- Employment size not 
exceeding 200 workers for non-
manufacturing companiesa A fixed interest rate financing programme designed to encourage 
and assist local enterprises to upgrade, strengthen and expand their 
operations 
 Loan facilities - Factory term loan 
- Machinery term loan 
- Machinery hire purchase loan - Working capital loan 
- Factoring loans 
 Interest rates:  fixed for dura tion of the loan and computed on 
monthly-rest, in-arrears basis  
Table AIII.8 (cont'd) WT/TPR/S/202 Trade Policy Review 
Page 138 
 
 
Scheme Eligibility Assistance 
 Companies with at least 30% 
local shareholdings, fixed asset 
investment (at net book value) 
of between S$15 million and 
S$50 million and employment size of between 200 and 
300 workers (for service 
companies) will be eligible to access LEFS short-term loans 
such as factoring and working 
capital facilities (valid up to June 2004) Use of LEFS loans 
- Establish a viable business 
- Modernize and automate plant and equipment 
- Expand existing manufacturing capacity 
- Diversify into other product lines - Augment working capital needs 
Micro Loan Programme (available under LEFS) To be eligible, a company must 
satisfy the following conditions:
- At least 30% local 
shareholdings - Employment size of not 
more than ten workers 
- In addition, the company's group fixed assets (at net book 
value) must not exceed S$15 
million and if it is in the service industry, group employment size not exceeding 200 workers. A fixed interest rate financing pr ogramme designed to help the very 
small local enterprises gain better access to financing 
 
Use of micro loans - Establish a viable business 
- Modernize and automate plant and equipment 
- Expand existing manufacturing capacity - Diversify into other product lines 
- Renovate existing or new business premises 
- Augment working capital needs like start-up costs or operational  costs 
Loan Insurance Scheme (LIS) To be eligible, a company must 
meet the following criteria: - At least 30% local 
shareholdings. 
- Fixed assets (at net book value) must not exceed 
S$15 million
a 
- If it is in the service industry, 
employment size not exceeding 
200 workersa The interest rates are set by participating financial institutions for 
their SME clients. A portion of th e loans will be insured against 
default risks by a private credit risk insurer. The government co-
shares the insurance pr emiums with the SMEs 
 Local enterprises can make use of loans to: 
- Establish new businesses 
- Modernize and automate operations - Expand existing businesses 
- Diversify into other businesses 
- Augment working capital needs  
Local Enterprise Technical 
Assistance Scheme (LETAS) 
 A scheme to help local 
enterprises defray cost 
incurred in modernizing and upgrading their operations 
through the engagement of an 
external expert for a limited period of time Local enterprises must meet the 
following criteria: 
- At least 30% local equity  - Fixed assets (defined as net 
book value of factory building, 
machinery and equipment) not 
exceeding S$15 million
a 
- Employment size not 
exceeding 200 workers for non-
manufacturing companies. Generally assistance provided is up to 50% of cost of engaging 
external expert for an approved short-term assignment depending 
on the scope, depth and effec tiveness of the assignment 
 
Areas of assistance that may be supported: 
- Identification and solving of technical problems - Technical improvements to present operations or process 
- Mechanization, automation or computerization of operations or 
 processes - Quality management systems 
- Business development 
- Financial development - Market development - Computerization and management information 
- Human resource management 
- Product development 
Bridging Loan Programme 
(this programme was 
discontinued on 1 January 
2004) 
 To be eligible 
- at least 30% of shareholdings 
must be local - Fixed assets (at net book 
value) must not exceed 
S$15 milliona 
- If it is in the service industry, 
employment size must not 
exceed 200 workersa A fixed interest rate financing programme designed to help small 
and medium enterprises gain access to short-term financing.  
 
Use of bridging loans 
- Augment working capital needs like operational or business  restructuring costs 
Table AIII.8 (cont'd) Singapore WT/TPR/S/202 
 Page 139 
 
 
Scheme Eligibility Assistance 
Domestic Sector Productivity 
Fund All Singapore-registered 
business enterprises and 
organizations including industry 
associations and bodies 
participating in the transformation project are 
eligible to apply.  Business 
enterprises are defined as proprietorships, partnerships or 
companies 
 The proposed project must meet the following criteria: 
 
(a) Project should represent a  major or critical part of an 
 overall industry 
 transformation plan.  
(b) Project should involve the 
 introduction of new or vastly  improved practices, 
 activities, facilities and/or 
 systems in one of the  following aspects : 
 - Business scope (i.e. 
  change/extension into new,   higher value add activities)
 - Business processes 
 - Information architecture  - Organization architecture 
 - Resources management 
 (i.e. people, land, materials,  energy, etc.) 
 
(c) Project should lead to  specific deliverables/  outcomes that will upgrade 
 the industry to be among the 
 best-in-class  internationally according to 
 specified practices and 
 performance parameters such  as reduced cycle time, 
 reduced costs, increased 
 revenue, higher value added  per worker, etc. 
 
(d) Project should involve at  least 3 companies working 
 together to achieve 
 economies of scale and  greater impact 
 
(e) Project should have the  expressed support and 
 commitment of the applicant 
 companies.  Where relevant,  the expressed support of an 
 industry association or any 
 formal company grouping  representative of the industry  or relevant government 
 agency would be useful Encourages companies within an  industry or value-chain to 
collaborate on projects to implement fundamental or radical 
changes in strategy, operations or  practices, leading to significant 
gains in productivity and competitiveness for the industry as a 
whole 
Table AIII.8 (cont'd) WT/TPR/S/202 Trade Policy Review 
Page 140 
 
 
Scheme Eligibility Assistance 
 (f) Results achieved must be 
 shared with other companies 
 in the industry during the 
 mass adoption phase 
 Project must not
 have 
commenced at the time of 
application.  
a Computed on a group basis i.e. checking up to three levels fo r corporate shareholders holding 20% or more of the total 
shareholding of the company and one level down where the company holds 50% or more of the total shareholding in a subsidiary 
company. 
Source:  Singapore authorities. 
__________