TAX NEWS - 2010

Singapore launches Angel Investors tax deduction plan to nurture Start-ups

Singapore launched the new Angel Investors Tax Deduction Scheme to help seed and nurture innovative Start-ups Monday.

Launched by Singapore's pro-enterprise agency SPRING Singapore, the scheme provides tax incentives to individuals with entrepreneurial and business expertise to bring their investments, expertise and networks to start-ups to help them grow.

Under the scheme, approved angel investors who make equity investments of at least 100,000 Singapore dollars (US$72,464.00) in eligible start-ups in a given year will qualify for a 50% tax deduction of the investment on their incomes.

To benefit from the scheme, the angel investor must demonstrate the ability to nurture investee companies, through his entrepreneurial or business experience.

The scheme is valid for investments made from March 1, 2010 to March 31, 2015.