Effectiveness of PIC scheme under scrutiny
Questions raised on gain sharing with workers, S'pore's value proposition as a high-cost country
[SINGAPORE] While many MPs welcomed the move to enhance the Productivity and Innovation Credit (PIC) scheme and extend it for another three years, some wanted more insight into the effectiveness of the scheme so far.
Speaking on the first day of the Budget debate yesterday, Patrick Tay (Nee Soon) wondered how many employers have actually given their workers a raise after receiving the PIC from the government.
The scheme was introduced in 2010 and gives tax deductions or cash grants when they invest to boost their productivity.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Singapore top recipient of Q1 cross-border investments in Apac: Knight Frank
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Bitcoin faces worst month since FTX crash with ETF demand cooling
AIA launches wealth centre targeting high-net-worth clients
Prudential’s Q1 new business profit down 2% at S$743 million