The Inland Revenue Authority of Singapore (IRAS) has released an updated and detailed directory of recognised Centres of Innovation (COIs). This list is critical for accountants and tax advisors assisting clients with compliance under the Enterprise Innovation Scheme (EIS).
Key Information:
The update provides specific contact details (including named contact persons) for partner institutions whose innovation projects qualify for the EIS. The newly published list includes, but is not limited to, the following COIs:
- Aquaculture Innovation Centre (Temasek Polytechnic)
- Centre for Complementary Health Products (Temasek Polytechnic)
- Centre of Innovation for Electronics and IoT (Nanyang Polytechnic)
- Centre of Innovation for Supply Chain Management (Republic Polytechnic)
- Food Innovation & Resource Centre (Singapore Polytechnic)
- Precision Engineering Centre of Innovation (SIMTech)
- Consumer Chemicals Technology Centre (Singapore Polytechnic)
- The Centre of Innovation for Built Environment – Advanced Materials
- Agriculture Research and Innovation Centre
A comprehensive directory is maintained on the Enterprise Singapore website.
Professional Analysis & Practical Implications for Accountants:
- Verification of Eligibility: This list is an essential reference tool. To claim the 400% tax deduction/allowance under the EIS for innovation projects conducted with external partners, the collaboration must be with an IRAS-approved COI. Advisors must cross-reference their client’s project partner against this official list to pre-empt disqualification during an IRAS audit.
- Enhanced Due Diligence: The provision of specific contact persons facilitates smoother project initiation and communication. From a compliance perspective, we recommend that client engagement letters with a COI explicitly name the approved centre and detail the nature of the qualifying activity (e.g., R&D, design, automation). This documentation will be paramount in substantiating the tax claim.
- Streamlined Compliance Process: Having a centralised and updated list reduces ambiguity. Firms should integrate a check against the latest IRAS or EnterpriseSG COI list into their standard EIS client onboarding and year-end review procedures to ensure ongoing compliance.
- Action Required: Accounting professionals are advised to:
- Bookmark the official IRAS EIS page and the Enterprise Singapore directory.
- Immediately update internal checklists and client advisories with this new information.
- Proactively contact clients engaged in innovation activities to ensure their partnerships align with the approved centres.
This update from IRAS provides much-needed clarity and reduces administrative friction for claiming EIS benefits. The onus is on practitioners to utilise this information to validate project partnerships rigorously, ensuring claims are robust and fully compliant with regulatory requirements.
Source: Enterprise Innovation Scheme (EIS), IRAS website, 1 September 2025.