Singapore to offer tax deductions for cloud computing adoption
Wednesday, November 02, 2011 4:51:18 PM
As many governments around the world have recently begun seeing cloud computing as an opportunity to improve efficiency in agencies and industry at large, some are starting initiatives to expedite widespread adoption.
Channel News Asia recently reported that the Infocomm Development Authority of Singapore will be offering fiscal incentives for enterprises using the technology. According to the source, the IDA will now include the cloud in its Productivity and Innovation Credit Scheme, which it hopes will encourage businesses to begin overhauling their IT services to the more efficient, cost effective and green technology.
The website notes that the initiative will offer participating businesses as much as 400 percent deductions on up to $400,000 (Singapore) in costs viewed as qualifying expenditure by the agency. Taxing policies in the United States have been relatively undeveloped, as the most recent battles between state governments and leading cloud computing providers have left loopholes open and hazy guidelines confusing.
However, experts believe that because of the burgeoning technology's benefits to local economies, as well as the newly released studies of the eco-friendly nature of the cloud, tax incentives for cloud adoption and use will begin to appear.
-McAfee Cloud Security
