26 Oct '11, 4am

IDA will give you tax deductions to implement cloud computing

IDA will give you tax deductions to implement cloud computing October 26, 2011 by Terence LEE Companies who want to implement cloud computing can now receive a boost from the Infocomm Development Authority (IDA) of Singapore. It comes in the form of tax deductions of up to 400 percent on up to S$400,000 (US$316,000) of qualifying expenditure incurred per year on each of six qualifying activities, which are: Acquisition or leasing of automation equipment ; Training of employees; Acquisition of Intellectual Property Rights; Registration of patents, trademarks, designs and plant varieties; Research and development activities; and Investment in approved design projects. Cloud computing was only recently included under the Productivity and Innovation Credit Scheme , which aims to help businesses improve productivity through automation. All businesses that have incurred expendit...

Full article: http://sgentrepreneurs.com/news-stop/2011/10/26/ida-will-...

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