R&D TAX INCENTIVES

Fuel Your Innovation with 400% Tax Deductions

Many companies in Singapore are investing in research and development without fully leveraging the tax benefits available to them. If your business is developing new products, improving processes, or solving technical challenges, you may be eligible for R&D tax deductions under Singapore’s R&D Tax Measures and the Enterprise Innovation Scheme (EIS).

At FI Group Singapore, we help businesses identify qualifying R&D activities, calculate eligible expenditures, and prepare robust documentation to support their claims. We tailor each engagement to your specific project structure, internal processes, and business goals. From initial assessment to post-submission support, our team works closely with your finance and technical teams to simplify the process and reduce risk, while ensuring your innovation efforts are fully recognised.

WHY THEY ARE RIGHT FOR YOU

Save up to 68% on R&D expenses
Enjoy 400% Tax Deduction
Applicable across all industries
Expert guidance every step of the way

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Our Methodology: How We Work

Our structured methodology ensures clarity, compliance, and efficiency:

Kick Off: Launch the engagement, gather initial information, and define a clear action plan.
Financial Calculation: Identify eligible costs, gather financial data, and compute the claimable amount.
Technical Justification: Conduct technical interviews, collect supporting information, and draft project descriptions.
R&D Form Delivery: Prepare and submit the required forms and documentation.
Claim Report: Compile all supporting elements and anticipate potential IRAS queries.
Support: Provide full assistance in case of post-submission questions or audits.

Our Methodology: How We Work

Our structured methodology ensures clarity, compliance, and efficiency:

Kick Off: Launch the engagement, gather initial information, and define a clear action plan.
Financial Calculation: Identify eligible costs, gather financial data, and compute the claimable amount.
Technical Justification: Conduct technical interviews, collect supporting information, and draft project descriptions.
R&D Form Delivery: Prepare and submit the required forms and documentation.
Claim Report: Compile all supporting elements and anticipate potential IRAS queries.
Support: Provide full assistance in case of post-submission questions or audits.

WHYFI GROUP

+25YEARS EXPERIENCE

+18KSATISFIED CLIENTS

1700EMPLOYEES

+2.2bSECURED IN SAVINGS FOR CLIENTS

QUALIFYING COSTS

Staff costs: Any salary, wages and other benefits paid in respect of employment excluding Director fees.
Consumables: Materials/items used in a Research and Development activity which upon such use, are consumed/transformed in such manner that is no longer usable in its original form.
Outsourced Fees: 60% of all fees payable to the organization for the outsourced R&D activities.

PROJECT ELIGIBILITY

Objective: Project aims to acquire new knowledge, create new or improve existing products, services or processes.
Novelty: Develop something new in Singapore.
Technical Risk: Involve a degree of technical risk addressing uncertainties that cannot be readily resolved by a competent professional in the field.
SIE Study: Include planned activities aimed at testing something new or not commonly known in the field.

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CASH PAYOUT

Companies can convert up to $100,000 of their total qualifying expenditure across all eligible activities per Year of Assessment (YA) into cash at a 20% conversion rate. This means you can receive up to $20,000 in cash per YA.

Important Consideration: While the cash payout option provides immediate liquidity, we advise opting for the tax deduction if your company is paying taxes. Here’s why: $100,000 in qualifying expenditure translates to a $400,000 tax deduction, with a Corporate Income Tax (CIT) rate of 17%, this deduction results in $68,000 in net savings for your company, this amount is 3.4 times higher than the maximum cash payout you can receive.

CASH PAYOUT

FREQUENTLY ASKED QUESTIONS

MORE ABOUT EIS

COMBINE TAX INCENTIVES AND GRANTS

Many businesses assume they must choose between applying for government grants or claiming R&D tax incentives, but in reality, both can be accessed in a coordinated way. When structured correctly, companies can receive grant funding for specific projects while also benefiting from tax deductions on eligible R&D activities. At FI Group, we help ensure that your grant and tax strategies are aligned, compliant, and optimised. Our team works across both areas to avoid overlap, manage reporting requirements, and maximise the total support your business receives for innovation.

EXPLORE OUR GRANT CONSULTING SERVICES

TRUSTEDBY LEADERS

Dr. Gan Weiliang, Founder & CEO, NANYTE Pte. Ltd.

We engaged FI Group Singapore for tax advisory and consultancy services, and the experience has been outstanding. Their expert understanding of the R&D tax incentive enabled us to unlock significant savings. They were responsive, professional, and flexible in meeting our needs. I would highly recommend FI Group to any business looking to optimize tax incentives.