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.
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