Diana Pang on Finance (Income Taxes) Bill
Qualifying AI expenditure for enhanced tax deduction appears to focus on systems and services bought from external providers, said MP Diana Pang in parliament on Tuesday (Oct 6). She asked if costs related to developing and implementing AI in-house would also be eligible, noting that support should help businesses adopt AI and develop the skills to use it well over time. She also called for measures to ensure that changes to tax filing and use of e-services will make things easier in practice for businesses.
Qualifying AI expenditure for enhanced tax deduction appears to focus on systems and services bought from external providers, said MP Diana Pang in parliament on Tuesday (Oct 6). She asked if costs related to developing and implementing AI in-house would also be eligible, noting that support should help businesses adopt AI and develop the skills to use it well over time. She also called for measures to ensure that changes to tax filing and use of e-services will make things easier in practice for businesses.
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