IRAS PIC – Productivity Innovation Credit
Singapore Government assist business by providing 400% tax deduction or 60% cash payout for investments in innovation and productivity improvements under the Productivity and Innovation Credit (PIC) scheme.
Download IRAS e-Tax Guide – PIC 2nd Edition
The tax benefits under PIC are available from Years of Assessment (YA) 2011 to 2015, on investments in any of the six qualifying activities.
- Acquisition or leasing of PIC Automation Equipment
- Training of employees
- Acquisition of Intellectual Property Rights
- Registration of patents, trademarks, designs and plant varieties
- Research and development activities
- Design projects
There are 2 options for PIC
Email address: firstname.lastname@example.org
Call IRAS (8 am to 5 pm from Mondays to Fridays):
- Companies 1800-356 8622
- Self-employed/partnership (+65) 6351 3534