Thursday, 21 August, 2014

 
Published February 21, 2014
SG Budget: Extension of PIC scheme welcome: KPMG
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"KPMG has been pushing for the PIC scheme to be liberalised for SMEs. It is great to see that the government has taken this into consideration with the introduction of PIC." - PHOTO: REUTERS

"KPMG has been pushing for the PIC scheme to be liberalised for SMEs. It is great to see that the government has taken this into consideration with the introduction of PIC."

"We are happy to finally see a tax incentive specifically tailored to the needs of SMEs. The PIC+ scheme is a good step forward to provide the necessary support to encourage equipment and technology investments for longer-term and more sustainable business performance."

"It is appropriate to have a re-calibrated PIC+ scheme for SMEs but it would have been more complete if a tax allowance for self-generated brands could be introduced. We should have addressed the tax disparity between brand purchasers and brand developers , rather than just encouraging the acquisition of brands."

- Tay Hong Beng, Head of Tax at KPMG in Singapore on Budget 2014.