Home » Government Assistance » Tax Incentives » Product Development & Innovation » Productivity And Innovation Credit (PIC)
Get significant tax deductions or payouts for your investments in research & development, innovation, automation and training.
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') website.
*Examples of centralised hiring arrangements include deployments and secondments to a related company. Once seconded, the staff costs are fully recharged to the related company.
Businesses can deduct 400% of their qualifying expenditure on each of the 6 qualifying activities from their income, subject to:
See:Illustration examples in IRAS website
These businesses will have the option to convert S$400 to S$100,000 of their qualifying expenditure for all 6 activities taken together into a cash payout.
See: FAQs on Cash Payout Option
Productivity and Innovation Credit
PIC e-Tax Guide (PDF)
FAQs on Cash Payout (PDF)
FAQs on Tax Deferral (PDF)
For Sole-Proprietors and Partnerships
Tel: (65) 6351 3534
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