Financial technology has been embraced by Singapore in recent years with regulatory and tax incentives promoting innovation, research and development, and intellectual property management. These incentives are intended to attract new technologies into Singapore.
A concern is that the phase-out of the productivity and innovation credit (PIC) regime in 2018 could have an adverse effect on innovation developed in Singapore over the past years. Some believe that the government needs to consider replacing the PIC regime with new tax incentives that are more targeted at the financial technology sector.
Read a February 2017 report [PDF 358 KB] prepared by the KPMG member firm in Singapore
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