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3.69 The Double Tax Deduction (DTD) for Overseas
Talent Recruitment Scheme introduced in 1998 allows
employers to claim a further tax deduction for
approved relocation and recruitment expenses incurred
in the hiring of top talent from abroad. The scheme
helps offset the extra cost that companies bear
to employ such persons.
3.70 The decision to relocate is often easier
if the individuals are able to bring their families
with them. To encourage employers to support the
additional cost of relocating top talent with
their families, I will increase the deduction
limit for the employer from $15,000 to $25,000
for P1 employment pass holders, and from $5,000
to $15,000 for P2 employment pass holders. I will
also increase the cap for tax deduction from $150,000
to $275,000 for employers.
3.71 These changes will take effect for expenses
incurred from today. Further details can be found
at Annex
F.
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