Productivity and Innovation Credit+ (PIC)
…….. Investing beyond the expenditure cap
for PIC? Claim enhanced tax deduction with PIC+ scheme.
partnerships and companies with.
an annual turnover of not more than S$100M
employment size of not more than 200 workers
To provide financial support
to small and medium enterprises that are making
substantive investments to transform their business.
PIC covers spending on 6 business
activities in the following areas:
research & development (R&D) - including R&D projects
conducted outside Singapore
registration of intellectual property rights – patents, trademarks,
designs and plant varieties
acquisition of intellectual property rights (E.g. when a company buys
a patent or copyright for use in its business)
acquisition or leasing of prescribed automation equipment
training of employees
approved design projects
For more details on
each of the 6 activities, please refer to the Summary of
Deductions/Allowances on Qualifying Activities table on the Inland Revenue
Authority of Singapore's (IRAS's) website.
Companies can get up to 400%
tax deductions or allowances on up to S$600,000 of their expenditure per
The annual expenditure cap of S$600,000 per qualifying activity may
be combined as follows:
Cap per Qualifying Activity
Deduction per Qualifying Activity
2013 to 2015
(400% x S$1,400,000)
2016 to 2018
(400% x S$1,800,000)
*Applicable if you are carrying on a
trade or business for the relevant YAs. Otherwise the combined cap is
Things to note
The scheme covers expenditure
incurred for YA 2015 to YA 2018.
For more info
PIC+ Scheme by Inland Revenue Authority of Singapore
How to apply?
You may contact us at Tel: 6220 3306 to find out