25 Oct '11, 8am

Cloud computing costs to qualify for tax deduction

SINGAPORE: Singapore's Infocomm Development Authority (IDA) said it'll be including cloud computing under the Productivity and Innovation Credit Scheme to encourage businesses to further raise productivity. This means payment by businesses for cloud computing services will count as investment in automation equipment. Businesses can enjoy tax deductions of up to 400 per cent on up to S$400,000 of qualifying expenditure incurred per year on each of six qualifying activities. These include training of employees and acquisition of intellectual property rights. Making the announcement at the Infocomm Industry Forum 2011, IDA also gave an update on its mobility solutions call-for-collaboration for the retail, F&B, hotels and attractions sectors which closed last month. Rear Admiral Ronnie Tay, CEO of the IDA said: "We received 46 proposals, covering a total of 147 F&B companies,...

Full article: http://www.channelnewsasia.com/stories/singaporebusinessn...

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