INTERNATIONAL TAX PLAZA - Inland Revenue Authority of Singapore published several documents/items regarding the Productivity and Innovation Credit (PIC)

(February 6, 2015)

On February 6, 2015 the Inland Revenue Authority of Singapore (IRAS) published several documents/items regarding the Productivity and Innovation Credit (PIC). Links to the documents can be found below.

Revised "PIC - Application for Approval of Equipment" Form;

Six Qualifying Activities Under PIC

This document a.o. discusses subjects like:

Acquisition and Leasing of PIC IT and Automation Equipment;
Training of Employees;
Acquisition and In-licensing of Intellectual Property Rights;
Registration of Patents, Trademarks, Designs and Plant Varieties;
Research and Development Activities;
Design Projects Approved by DesignSingapore Council;

Application for Approval of Equipment for PIC;

Businesses that invest in equipment not in the PIC IT and Automation Equipment List, but which automate or mechanise their business processes and enhance productivity may apply to IRAS to have their equipment approved for PIC on a case-by-case basis. In this document the IRAS a.o. describes the criteria for approval. Furthermore the document contains a few examples. The document also describes how to apply.

PIC Brochure 2014 Edition (Chinese)

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