PIC

PIC Scheme

PIC, which stands for Productivity and Innovation Credit scheme was introduced by the government in 2014. The scheme aims to assist firms make more substantial investments in transforming their business. Under the PIC scheme, businesses can enjoy 400% tax deduction/allowances, and/or 40% cash payout for investments made in any of the following six qualifying activities, within Years of Assessment (YAs) 2013 to 2018.

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Read here to find out more: https://www.iras.gov.sg/irashome/Schemes/Businesses/Productivity-and-Innovation-Credit-Scheme/