Productivity and Innovation Credit (PIC) Scheme for R&D
Are you making the most out of PIC scheme and R&D tax incentives?
To remain competitive in the rapidly changing global economy, it is critical for businesses to create value through innovation, raise productivity and invest in training of their people and technology.
To encourage investment in such activities, the Singapore Government has, in the 2010 Budget,
introduced the Productivity and Innovation Credit (PIC) scheme. The PIC scheme is a broad based tax incentive available to businesses in all sectors investing in qualifying activities.
The scheme has since been enhanced in the 2011 Budget. There is therefore no better time for businesses to invest in such activities to maximise the tax benefits to the company.
Read the attached publication for more information.