UPDATES ON THE PRODUCTIVITY AND INNOVATION CREDIT SCHEME AND THE NATIONAL PRODUCTIVITY FUND
Parliament of Singapore · 10 January 2011
Official Report, 10 January 2011, Vol 87, Issue 13 · Open in the reader (summaries, search, filters)
UPDATES ON THE PRODUCTIVITY AND INNOVATION CREDIT SCHEME AND THE NATIONAL PRODUCTIVITY FUND
4.
Mrs Mildred Tan asked the Minister for Finance whether he will provide an update on the Productivity and Innovation Credit Scheme and the National Productivity Fund that were introduced in 2010.
Mr Tharman Shanmugaratnam: The Productivity and Innovation Credit (PIC) scheme is for businesses which incur qualifying expenditure for Year of Assessment (YA) 2011 to YA 2015. The filing deadline for the YA 2011 income tax return is 30th November 2011. Statistics on the take-up rate of PIC will only be available in early 2012.
As for the National Productivity Fund, the Government will be providing further updates during the upcoming Budget.
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Source: Singapore Parliament Official Report (Hansard) for 10 January 2011. Republished on SGParliament.