SINGAPORE (Jan 18): The Singapore Institute of Accredited Tax Professionals (SIATP) has called for targeted tax incentives to be included in Budget 2018 to reinforce Singapore’s productivity drive and help businesses tap into the accelerated growth.

Based on feedback gathered from its members, SIATP’s recommendations include enhancing the existing research and development (R&D) scheme, introducing a tax incentive for the financial technology (fintech) sector, and introducing a double deduction scheme for training expenses.

With the impending expiry of the Productivity and Innovation Credit (PIC) scheme, SAITP suggests that qualifying R&D expenditure on approved R&D projects be allowed an additional 100% to 200% deduction.

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