The government has rolled out several initiatives to enable both start-ups as well as established industry-specific businesses to gain access to funding during the recent 2014 budget speech.
Singapore, Singapore (PRWEB) April 15, 2014
Paul Hype Page & Co. announces the availability of enhanced government grant opportunities for enterprise businesses operating in Southeast Asia. If you want to set up a company incorporation or diversify investments, Paul Hype Page & Co. helps entrepreneurs, business owners, firms and individuals seeking residency, establish and manage a broad range of business opportunities in Singapore.
In a climate of growing financial instability in Western markets, many foreign investors are expanding their portfolios through registration of a company in Singapore. “The government has rolled out several initiatives to enable both start-ups as well as established industry-specific businesses to gain access to funding during the recent 2014 budget speech,” explains Eric Eio, Managing Partner.
As of March 1st Singapore has expanded the scope of the Productivity and Innovation Credit (PIC) scheme and Innovation & Capability Voucher (ICV) to provide enhanced tax deductions and/or cash payouts to a board range of SME businesses investing in capability, productivity and innovation.
“The Productivity and Innovation Credit scheme will help businesses claim a 400% tax deduction with potential for a 60% cash payout to encourage Singapore businesses engaged in the six qualifying activities to take their first step towards capability development.”, states Eric Eio.
According to Inland Revenue Authority of Singapore (IRAS), some of the PIC credit scheme activities include qualifying expenditures incurred on productivity and innovation automation equipment, training of employees, acquisition of IP rights, registration of certain IP rights, research & development and approved design projects.
The Innovation & Capability Voucher (ICV) is another tax allowance valued at $5,000, to encourage SMEs with sales of under $100M or 0-200 employees to take their first step towards capability development. SMEs can use the voucher to upgrade and strengthen their core business operations through consultancy in the areas of innovation, productivity, human resources, and financial management. “Apart from consultancy, ICV also supports SMEs in the adoption and implementation of simple solutions to improve business efficiency and productivity,” explains Eio.
Singapore is known around the world for its multilingual and culturally diverse strategic location and for its steady track record of fiscal economic growth. Diversifying portfolios with investments in Southeast Asia has never been easier and Singapore is a premium market place that is thriving with investments and government grants.
“Our team of experienced professionals is available to provide guidance on getting an employment pass, how to set up a company incorporation or registration in Singapore and obtain a Productivity and Innovation Credit (PIC) Innovation & Capability Voucher (ICV)”, explains Eric Eio.
Paul Hype Page & Co. has a demonstrated track record of success over the years and the ease of access to Singapore government grants and other business opportunities makes the registration of a company Singapore a trustworthy investment.
For more information please visit http://www.paulhypepage.com.
About Paul Hype Page & Co.
Paul Hype Page & Co. was established in 2008, a Full Practicing Member of Institute of Certified Public Accountants of Singapore (ICPAS) and also registered as a Public Accounting Firm with Accounting and Corporate Regulatory Authority (ACRA).
We offer consultancy services relating to Singapore Company Incorporation, Accounting, Auditing, Taxation, Immigration, Company Secretary Services and related compliance services.