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36 people charged over alleged S$11.8 million PIC scheme fraud

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SINGAPORE: Thirty-six people were charged in court for offences related to a Productivity and Innovation Credit (PIC) scheme fraud involving S$11.8 million, police said in a news release on Monday (Aug 30). They were linked to companies that were alleg

SINGAPORE: Thirty-six people were charged in court for offences related to a Productivity and Innovation Credit scheme fraud involving S$11.8 million, police said in a news release on Monday .

The PIC scheme, introduced in Budget 2010, grants tax deductions and/or allowances to businesses that invest in specified productivity and innovation activities.

 

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