Introducing tax incentives will help improve Singapore’s economic productivity.
Singapore Institute of Accredited Tax Professionals (SIATP) has announced a request for tax incentives in the upcoming Budget 2018.
According to SIATP, the initiative is focused on having targeted tax incentives for businesses to accelerate their growth, which can help boost economic productivity in the country.
Further, SIATP calls for the following actions: improve the existing research and development (R&D); encourage R&D activities in startups and small and medium enterprises (SMEs); introduce a fintech tax incentive; and start a double deduction scheme for training expenses.
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