Kooolweb : PIC Scheme

Enjoy up to $400,000 worth of tax deductions per year!

Cash Payout of up to $60,000 per year!*

*You must meet the qualifying conditions for PIC as stipulated by IRAS

Claim PIC Bonus of up to $15,000 from YA 2013 – 2015 ! *

*You must meet the qualifying conditions for PIC as stipulated by IRAS

How the PIC Scheme can benefit you

Take advantage of benefits designed to help grow your business

PIC Scheme (Productivity and Innovation Credit)

PIC is a scheme introduced in 2010 by the Singapore government. Under the scheme, companies are entitled to enjoy up to 400% tax deduction or get a 60% cash payouts of the amount invested in innovation, research and development, automation, and training.

For Years of Assessment (YAs) 2013 to 2015, businesses that invest in qualifying activities under the Productivity and Innovation Credit (PIC) scheme will receive a PIC Bonus.

PIC Bonus gives businesses a dollar-for-dollar matching cash bonus for YAs 2013 to 2015, subject to an overall cap of $15,000 for all 3 YAs combined. This is given on top of the existing 400% tax deductions/allowances and/or 60% cash payout (“PIC cash payout”) under the PIC scheme. To enjoy the PIC grant, businesses must have made a claim for the 400% tax deductions/allowances and/or the PIC cash payout.

Please refer to IRAS website for details and qualifying conditions on Productivity and Innovation Credit (PIC) Scheme and PIC Bonus.