On 20/06/2013,
you requested for the version in force on 20/06/2013
incorporating all amendments published on or before 20/06/2013.
The closest version currently available is that of 01/01/2008.
14A.
—(1) Subject to this section, where a person carrying on a trade or business has incurred during the period from 1st June 2003 to 31st May 2013 patenting costs for the purposes of that trade or business, there shall be allowed to him a deduction of the amount of such costs.
[21/2003]
(2) The claim for deduction under subsection (1) shall be allowed to a person only if —
(a)
there is an undertaking by the person that he would be the proprietor of the patent when the patent is granted; and
(b)
the claim is made by the person in such manner and subject to such conditions as the Comptroller may require.
[21/2003]
(3) For the purposes of this section, any patenting costs incurred by a person prior to the commencement of his trade or business shall be deemed to have been incurred by that person on the first day he carries on that trade or business.
[Act 29/2010 wef Y/A 2011 & Sub Ys/A:2010-ACT-29]
[21/2003]
(4) Where a person to whom a deduction for patenting costs has been allowed under this section sells, transfers or assigns in the basis period for any year of assessment all or any part of the rights for which such patenting costs were incurred, the person shall be deemed to have derived an amount of income for that year of assessment equal to the price which the rights were sold, transferred or assigned or the deduction which has been allowed under this section, whichever is the less.
[Act 29/2010 wef Y/A 2011 & Sub Ys/A:2010-ACT-29]
[21/2003]
(5) For the purposes of subsection (4), where there is more than one sale, transfer or assignment of any part of the rights for which such patenting costs were incurred, the total amount deemed as income shall not exceed the total amount of deduction previously allowed under this section.
[Act 29/2010 wef Y/A 2011 & Sub Ys/A:2010-ACT-29]
[21/2003]
(6) In this section —
“patenting costs” means the fees paid to —
(a)
the Registry of Patents in Singapore or elsewhere for the —
(i)
filing of a patent;
(ii)
search and examination report on the application for a patent; or
(iii)
grant of a patent; and
(b)
any registered patent agent for —
(i)
applying for any patent in Singapore or elsewhere;
(ii)
preparing specifications or other documents for the purposes of the Patents Act (Cap. 221) or the patents law of any other country; or
(iii)
giving advice on the validity or infringement of the patent;
“registered patent agent” has the same meaning as in the Patents Act.
[21/2003]