3.41 Logistics, maritime and aviation services are key to Singapore’s connectivity and our role as a global business hub. We will develop these capabilities further.
3.42 To encourage shipping logistics companies to grow their activities in Singapore, we will enhance the Approved Shipping Logistics Enterprise Scheme by extending the incentive period from five years to 10 years.
3.43 Asia-Pacific aviation is expected to lead global growth in passenger and freight activity over the next five years. The leasing business will grow as airlines are increasingly looking to lease aircraft and aircraft engines. Singapore can position itself as the base for regional leasing activities, as we have the aviation expertise and a well-developed financial sector. I will therefore make several enhancements to the Aircraft Leasing Scheme that is currently awarded to approved aircraft leasing operators.
3.44 I will also expand the scope of GST zero-rating for international maritime and aviation services so that logistics companies here will pay zero GST when they incur expenses to service, buy or lease containers in Singapore.
3.45 Details of these tax changes too will be in Annex A.
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