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Singapore Budget 2018: Enterprise grants to be combined under Enterprise Development Grant
TO provide more holistic and cusomised support to local enterprises seeking to build deep capabilities, scale up, and internationalised, Spring Singapore's Capability Development Grant (CDG) and International Enterprise Singapore's Global Company Partnership (GCP) grant will be combined into the Enterprise Development Grant (EDG).
Finance Minister Heng Swee Keat told parliament on Monday that the EDG would provide funding support for up to 70 per cent of qualifying costs from FY2018 to FY2019.
Businesses can apply for the EDG through the Business Grants Portal (BGP), with effect from Q4 2018. Before then, the businesses can contribute to apply for the CDG and GCP grants, through the BGP.
Mr Heng said the government would also raise the amount of expenses that can qualify for the Double Tax Deduction for Internationalisation without prior approcal, from S$100,000 to S$150,000 per year of assessment. This will take effect from YA2019.
For more Budget 2018 stories visit bt.sg/budget18