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29-Oct-14

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PIC Bonus

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.

The 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 Bonus, businesses must have made a claim for the 400% tax deductions/allowances and/or the PIC cash payout. The PIC Bonus is taxable.

For more info

PIC Bonus Scheme by Inland Revenue Authority of Singapore (IRAS)

How to apply?

You may contact us at Tel: 6220 3306 to find out more.

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Hotline: 6220 3306

email: myob@gstassist.sg

website: myob.gstassist.sg

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