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Productivity and Innovation Credit (PIC) Scheme

(last updated Mar 2013)

Good news!  Your business can enjoy 400% tax deductions/allowances and /or 60% cash payout for investment in innovation and productivity improvements under the PIC scheme*. On top of it, from YAs 2013 to 2015, your business may also enjoy a PIC Bonus, a dollar-for-dollar matching cash bonus #.  This means, for e.g. if you invest $15,000 in training for YA 2013-2015, you will receive your full investment back plus an additional cash-payout of $9,000!

For more info please refer to http://iras.gov.sg/irashome/PIcredit.aspx or contact us, we will be happy to explain these to you.

* Cap of $400,000 for tax deduction option and $100,000 for cash payout option per YA

# Up to $15,000 for YA2013-2015