Incentives for SMEs made easier and faster to claim

Singapore

THE government is taking concrete steps to support SMEs' growth and restructuring efforts by making incentives easier and faster to claim, and by reducing their compliance burden, said Senior Minister of State for Finance and Transport Josephine Teo yesterday in parliament.

Speaking during the Committee of Supply debate on the Ministry of Finance (MOF), Ms Teo revealed two tweaks to the cash payout portion of the Productivity and Innovation Credit (PIC) scheme.