The PIC scheme was implemented by various government agencies in YA 2011 to boost productivity and efficiency across all industries in Singapore. This allows business to enjoy 40% cash pay-out or a 400% tax deduction / allowance (only until YA 2018, announced on Budget 2016) when they invest in the following criteria as lay out by IRAS:

• Acquisition or leasing of PIC Information Technology (IT) and Automation Equipment
• Training of employees
• Acquisition and In-licensing of Intellectual Property Right
• Registration of Patents, Trademarks, Design and Plant Varieties Research and Development activities
• Design project approved by Design Singapore Council

Businesses eligible to apply for the Cash pay-out are Sole-Proprietorship, Partnerships, and Companies (including registered business trusts) that have:

• Once the qualifying expenditure is converted to cash, it cannot be claimed as tax deduction/allowances.
• Election to convert qualifying expenditure to cash is permanent.
• The minimum qualifying expenditure for each application is $400.
• Qualifying expenditure to be converted to cash is the amount net of grant or assistance by the Government or any statutory board, and includes grant or assistance pending approval.

How we can help you?

Our PIC executives at NAL Corporate and Consult are very well-versed in this sector. From analysing the eligibility of equipment and company, drafting of case by case approval letters, the procedures regarding filing for PIC, tracking the status of your claims and scrutiny with the dates and amounts.

Armed with this knowledge and experience, we are able to answer your queries upfront and advise you accordingly. To this date, we have accomplished a 99% track record in securing our client’s PIC claims.

We also provide PIC case-by-case approval writing/submission at affordable rates. (For equipment not listed under PIC eligible equipment lists).