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Low take-up rate for R&D claims under PIC: PwC study
Only 6.3 per cent of respondents say most of their investments in the next three years will be in R&D
Add BT as a preferred sourcePublished Sun, Oct 19, 2014 · 09:50 PM
Singapore
DESPITE Singapore's push to be a bustling research and development (R&D) hub, the take-up rate for R&D claims under its Productivity and Innovation Credit (PIC) has turned out to be low.
In a latest study on 260 companies by PwC, close to half of companies indicated that most of their investments in the next three years will be in the purchase or leasing of PIC-approved IT and automation equipment. Some 42.4 per cent said they would invest the most in training, while only 6.3 per cent of respondents said they would invest the most in R&D.
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