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Skip Navigation LinksPioneer Service Companies

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  • - When the Minister considers it expedient in the public interest
  • - Where a company is engaged in any qualifying activity as follows:-

1

Any engineering or technical services including laboratory, consultancy and research and development activities;

2

Computer-based information and other computer related services *;

3

The development or production of any industrial design;

4

Services and activities which relate to the provision of leisure and recreation;

5

Publishing services;

6

Services which relate to the provision of education;

7

Medical services*;

8

Services and activities which relate to agricultural technology;

9

Services and activities which relate to the provision of warehousing facilities;

10

Services which relate to the organization or management of exhibitions and conferences;

11

Financial services;*

12

Business consultancy, management and professional services*;

13

Venture capital fund activity;

14

Operation or management of any mass rapid transit system;

15

Services provided by auction house;

16

Maintaining and operating a private museum; and

 

Such other services or activities as the Minister may prescribe.

NOTE * The pioneer services certificates have already been granted to companies.


Tax Relief Period
The tax exemption period of a pioneer service company, shall commence on the commencement day.Exemption period for 8 years but Extension Not exceeding 11 years in total.  In relation to financial services 5 years, which may be extended for further 5 years not exceeding 10 years in total.

QUALIFYING ACTIVITY

TAX EXEMPTION PERIOD

Any qualifying activity

8 years

Financial services

5 years

Extension  Any qualifying activity

Not exceeding 11 years in total

Extension Financial services

Not exceeding 10 years in total

 

Investment Incentives

  • - Exemption from income tax
  • - Carry forward of loss and allowance.​