Latura / GrantsExplore grants ↗

Inland Revenue Authority of Singapore

Refundable Investment Credit

A tax credit awarded through EDB or Enterprise Singapore for sizeable investments that bring substantive economic activity to Singapore.

automationdigitalisationcapability buildinginnovationsustainability

Facts last checked on , confirm on the agency site before applying.

Recorded status: Accepting applications now

Who qualifies

  • The qualifying project and expenditure must satisfy the conditions in the letter of award and the Refundable Investment Credits regulations.

What it funds

  • Automation, robotics, equipment upgrades for productivity
  • Adopting digital tools, software, e-commerce, cybersecurity
  • Core capabilities — strategy, HR, finance, branding, processes
  • R&D, product development, prototyping, IP
  • Energy efficiency, decarbonisation, green certification, waste reduction

Costs covered: Hardware, machinery, IT equipment; Software licences and SaaS; Internal staff salary attributable to the project; Course fees and trainer costs; Third-party consultant or professional service fees; IP registration and licensing costs; Physical materials and consumables consumed by the funded project (e.g. construction materials, prototypes); Overseas travel and logistics.

Maximum support: up to 50%.

Up to 50% on each qualifying expenditure category; total quantum is determined by the Approving Authorities.

Payment: Delivered as a tax deduction, allowance or credit.

How to apply

Contact EDB or Enterprise Singapore, the Approving Authorities, for the RIC application and project assessment route. IRAS credits the approved amount after the Approving Authority verifies the claim.

IRAS names the approving authorities and claim flow but does not publish the application document checklist on this page.

  1. Contact EDB or Enterprise Singapore for the RIC application and project assessment route.
  2. After approval and eligible expenditure, submit the claim to the Approving Authority.
  3. Make the irrevocable election at claim application for tax set-off or cash according to the prescribed schedule.

Claiming support

Submit the claim application to the Approving Authority; after verification, the authority issues a letter of confirmation and transmits the information to IRAS. Unutilised credits are refunded in cash within four years from when the RIC company satisfies the conditions for receiving the RICs.

Contact: Contact EDB or Enterprise Singapore directly.

Application window: Award is approval-based; no general application window is stated. Each award has a qualifying period of up to 10 years.

Sources & last checked

Last checked:

← Explore all grants