The Inland Revenue Authority of Singapore (IRAS) issued a release (forum reply) on its robust anti-gaming system to detect and prevent fraudulent claims under incentive schemes, including the Productivity and Innovation Credit (PIC) scheme in particular. The PIC scheme provides a 400% tax deduction/allowance for qualifying expenditure incurred up to year of assessment 2018.
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Robust Anti-Gaming System In Place
We refer to Mr Ang Ah Lay's letter 'Iras should account for system's failure …