The Government’s Productivity & Innovation Credit (PIC) scheme has turned up a rising number of cheats. What are your suggestions to safeguard such schemes from frauds? Share your suggestions. [bit.ly/1qcFyYX] Since the PIC scheme’s introduction in 2010, the tax authority has probed 158 cases and either recovered or blocked payouts in 49 cases involving a total of almost $3 million. Under the PIC scheme, companies qualify for tax deductions or cash payouts if they invest in areas such as staff training, information technology or automation equipment, as well as research and development.
Posted on: Sun, 06 Apr 2014 04:00:01 +0000
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