Crude petroleum and natural gas production

classLevel 4Use for ACRA Registration

This sub-class includes extraction, exploration, dressing and/or beneficiating of crude petroleum and natural gas. Units in this sub-class are primarily engaged in: - extraction and/or exploration of crude petroleum oils, gaseous hydrocarbon (natural gas) and/or condensates - draining and/or separation of liquid hydrocarbon fractions - gas desulphurisation - extraction and/or exploration of bituminous or oil shale and/or tar sand - production of crude petroleum from bituminous shale and/or sand - processes to obtain crude oils such as decantation, desalting, dehydration and/or stabilisation - mining of hydrocarbon liquid, obtained through liquefaction or pyrolysis

SSIC Guide

Tax Incentives & Schemes

2 schemes that businesses in this SSIC code may qualify for. Eligibility is case-by-case — talk to the relevant authority.

Tax exemptionIRASPTE

Partial Tax Exemption (PTE)

Benefit: First SGD 10,000: 75% exemption; next SGD 190,000: 50% exemption. Available to all companies (including those past their 3-year SUTE window).

Eligibility: Singapore tax-resident company.

Tax exemptionIRASSUTE

Start-Up Tax Exemption (SUTE)

Benefit: First SGD 100,000 of chargeable income: 75% exemption; next SGD 100,000: 50% exemption. For each of the first 3 YAs after incorporation.

Eligibility: Newly incorporated SG-resident company, ≤ 20 individual shareholders (or one corporate holding ≥ 10%), not in investment-holding or property-development.

Note for SSIC : Excludes 64202 investment holding & 41001/68101 property development

Worth applying for any of these?

We screen eligibility and shape the application — most schemes are discretionary and need a substantive activity case.

Classification Path

Section

B-MINING AND QUARRYING

Division

09-SERVICE ACTIVITIES INCIDENTAL TO OIL AND GAS EXTRACTION (EXCEPT SURVEYING AND ENGINEERING DESIGN AND CONSULTANCY SERVICES SUPPORTING MINING, OIL AND GAS EXTRACTION AND OFFSHORE EXPLORATION ACTIVITIES)

Group

090-SERVICE ACTIVITIES INCIDENTAL TO OIL AND GAS EXTRACTION (EXCEPT SURVEYING AND ENGINEERING DESIGN AND CONSULTANCY SERVICES SUPPORTING MINING, OIL AND GAS EXTRACTION AND OFFSHORE EXPLORATION ACTIVITIES)

Current class

09001-Crude petroleum and natural gas production

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