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KPMG, Ernst & Young ask Singapore for better IP policies to encourage innovation

( January 13, 2017, 06:48 GMT | Insight) -- KPMG and Ernst & Young have both called on the Singapore government to implement policies that will encourage innovation and intellectual property creation, The Business Times Singapore reports. KPMG and Ernst & Young have both called on the Singapore government to implement policies that will encourage innovation and intellectual property creation, The Business Times Singapore reports. The suggestions, listed in the accounting firms' Budget 2017 wish lists, include the introduction of a patent box regime, which usually offers reduced tax rates on income derived from IP. KPMG also proposed a double tax deduction to retrain employees for digital roles, and more flexibility to employ foreign manpower with IT skills, while EY suggested a preferential tax rate of 10 percent or lower to promote financial innovation....

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