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3.38 Companies can currently apply to EDB or
IDA for writing-down allowances over a five-year
period for capital expenditure incurred in acquiring
intellectual property such as patents, copyrights
and trademarks. To increase Singapore's attractiveness
as an international IP holding location, I have
decided that writing-down allowances will be granted
automatically, subject to the condition that the
legal and economic ownership of the IP lies with
the Singapore entity. This will apply to IP acquired
on or after 1 November 2003.
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