| Impact on Business
* To facilitate the take-off of e-commerce in Singapore, the Government has been putting in place a supportive legal and policy framework. For example, the Electronic Transaction Act, passed in Jul 98, provides a favourable legal environment for safe and secure e-transactions. * The government provides direct subsidies and fiscal incentives to support companies embarking on e-commerce initiatives. One example of a direct subsidy program introduced is the eBusiness Industry Development Scheme (eBIDS), aimed at encouraging companies that already have existing e-commerce capabilities to further expand the scale and scope of their e-commerce activities. eBIDS cofunds companies’ investment in e-commerce projects proportionately based on the total e-commerce value created, up to a maximum of S$500,000. Another example is the Jump-startProgram ,which extends the existing computerization subsidy scheme for local SMEs to adopt e-business activities by supporting up to 50% of the qualiﬁed e-commerce related consultancy, subscription fees for up to12 months, hardware and software purchases, and cost of usage of applications services provider (ASP), subject to a cap of S$20,000 per company.The Government also offers several financial assistance programmes to promote the early adoption of e-commerce by SMEs. For example, the Local Enterprise Electronic Commerce Programme allows local enterprises that are embarking on e-commerce initiatives to enjoy a grant of up to 50% of the total project cost, subject to a maximum of S$20,000. * Notably, Singapore’s government’s cooling measures which have been passed recently such as the imposition of Seller’s Stamp Duty and Additional Buyer’s Stamp Duty do not apply to commercial properties. In Singapore, the government has been placed many initiatives to attract foreign investors. Singapore Government Body, Immigration Singapore Authority will consider application for Permanent...
Please join StudyMode to read the full document