On 27 November 2014, Singapore enacted Income Tax (Amendment) Act 2014, which includes amendments that give effect to policies announced in Budget 2014, as well as non-budget changes. The final Act also includes changes made following a public consultation. The main amendments included in the final Act are as follows: The Productivity and Innovation Credit (PIC) scheme is extended for 3 years till year of assessment (YA) 2018, and from YA 2016, the period for satisfying the requirement of employment of three local employees will be extended from one month to three months The PIC+ Scheme is introduced, under which...