Productivity and Innovation Credit (PIC)
40% Cash Back Via the Productivity and Innovation Credit (PIC):
The PIC scheme supports investments in innovation and productivity. Under the PIC Scheme, businesses enjoy 400% tax deductions/allowances for qualifying expenditure incurred in any of the Six Qualifying Activities from the Years of Assessment (YAs) 2011 to 2018. For YA 2013 to 31 Jul 2016, eligible businesses can also exercise an irrevocable option to convert qualifying expenditure of up to $100,000 for each YA into cash, at a conversion rate of 60%. For qualifying expenditure incurred on or after 1 Aug 2016, the cash payout conversion rate will be reduced from 60% to 40%. The PIC scheme will lapse after YA 2018.
Boost your tax savings and drive organizational efficiency by attending an IQPC event today. You can claim 40% of your registration fee by following this simple 10 minute process!
1) Select, register and pay for your event of choice.
2) Complete the PIC form here: https://mytax.iras.gov.sg/ESVWeb/default.aspx?target=PICCashPayout
3) Attend the event and network with other power brokers!
4) Return to work and file your receipt (which we emailed you), record of attendance (that you picked up at the event) and the PIC form with your accounts department. They can take care of the rest!
5) Apply everything you learnt at the event, expand your career, impress your colleagues and drive your organizations next period of growth!
Seem complicated? For a 15% fee you can also contact Get Funding Asia (www.getfunding.asia) on 65 69081570 and they can complete the leg work for you!
For more information visit http://www.iras.gov.sg/irashome/picredit.aspx. Terms and conditions apply.