18 Feb '11, 3pm

DTN Singapore: SMa "pleased" with Budget: SINGAPORE: The Singapore Manufacturers' Federation (SMa) has described...

SINGAPORE: Small and Medium Enterprises (SMEs) and the Singapore Manufacturers' Federation (SMa) have applauded the goodies in this year's Budget. The Ministry of Finance (MOF) will boost existing productivity schemes and companies looking to expand overseas can utilise a new foreign tax credit pooling initiative. For Singapore SME Swee Hin Power Systems, the budget initiatives to boost productivity and aid overseas growth are exciting developments. It said the foreign tax credit pooling is a good step forward. Tay Jih-Hsin, director of sales & marketing, Swee Hin Power Systems, said: "For companies which have presence overseas, I think it will drive them to expand further their overseas operations because the foreign tax credit would be good economic savings for these companies." In general, SMEs will have more to look forward to from this Budget. Another S$1 billion will...

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

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