Singapore News


The Transition Support Package (TSP) has been an important source of support to companies since it was launched in 2013.
It has three parts: the Wage Credit Scheme (WCS), Corporate Income Tax (CIT) Rebate, and the Productivity and Innovation Credit Bonus (PIC Bonus).
The TSP is meant to be transitional and is estimated to disburse $7.5 billion over three years to help businesses cope with rising costs as they restructure. The Government will phase out WCS gradually and extend the CIT rebate, but will end the PIC bonus.


Source: MOF #‎SGBudget2015‬