The Singapore Ministry of Finance (MOF) received 52 responses for the public consultation on the draft circular, Guidelines on what is research and development (R&D) for income tax purposes, released in August.

The MOF has accepted, and will incorporate, 27 suggestions into the final circular.

Of the 52 responses received, 43 concern the definition of R&D and a list of excluded activities, in particular the exclusion of software development activities.

The remaining responses were inconsistent with the aim of the policy or requested clarification on tax administration of R&D incentives.

For further information visit the MOF website.