25 Oct '11, 11am

IDA announces improved SME credit scheme new scholarships

They may be small in size, but they can soon punch above their weight. Small and medium enterprises (SMEs) got a shot-in-the-arm on Tuesday when the Infocomm Development Authority (IDA) announced that adoption of cloud computing technologies will now qualify for a 400 per cent tax deduction under the Productivity and Innovation Credit (PIC) scheme. 'The data-related industry of cloud computing and analytics are fast growing,' said Rear-Admiral Ronnie Tay, CEO of IDA. 'I encourage businesses to make use of the PIC scheme to invest in productivity and innovation.' Cloud computing refers to the use of services that exist online rather than residing on individual computers in the office. For example, instead of typing out reports on traditional word processing software, businesses can opt to use a similar service, but through the Internet. The result is minimal upfront investm...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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sgentrepreneurs.com 26 Oct '11, 4am

IDA will give you tax deductions to implement cloud computing October 26, 2011 by Terence LEE Companies who want to implem...