Subsidy For Accounting Software
Small and medium enterprises (SMEs) buying their first accounting software will receive a funding of up to S$1,500, if the software meets the requirements set by the Inland Revenue Authority of Singapore (IRAS). Offered under the Accounting Software Assistance Scheme (ASAS) launched by IRAS and the Infocomm Development Authority of Singapore (IDA), the funding also applies to software deployment and training costs.
“ASAS provides support for SMEs to acquire their first accounting software to improve their financial and bookkeeping practices,” said Mr Sam Tan, Parliamentary Secretary for Trade and Industry, and Information, Communications and the Arts, who announced the scheme at the Infocomm Commerce Conference (ICC) on 20 August 2009.
To qualify for the scheme, each SME must have at least 30 per cent local shareholders, have less than S$15 million worth of fixed assets, employ fewer than 200 staff, is GST-registered, and is currently not using any accounting software. ASAS is available until 31 March 2012.
For in depth news report, please visit IDA website.
Related posts: