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Need to review R&D tax incentive scheme to boost innovation

Singapore will become one of the least attractive places in the world to undertake R&D with the expiry of the Productivity and Innovation Credit.

Countries around the world have identified innovation as the key engine of growth, and Singapore needs to ensure it does not fall behind in its support of businesses in their innovation drive.

WITH the advancements in technology, innovation in all industries will accelerate. Singapore has long foreseen the need to embrace innovation in all forms, but it is not alone in gearing up to be an innovative economy. Developed countries such as the United Kingdom, Australia and Ireland have...

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