Singapore’s Productivity & Innovation (PIC) Scheme | JFAM Synergy

Maximize your budget with Productivity & Innovation (PIC) Scheme!

With the PIC Scheme, Singapore registered businesses can enjoy huge tax savings in the form of 60% Cash Back or 400% Tax Deduction when they invest in trainings to upgrade the skills of employees, including executive education programs provided by Clariden.

Have 60% of Your Registration Fees Funded – Cash Payout Option!

Eligible businesses can get 60% cash back on investment on training programs for their employees.

 

How to Apply for Cash Payout

Register and pay for any executive program or conference. Attend the program and receive a program certificate. Submit the completed PIC Cash Payout Application Form along with the program invoice and a copy of your program certificate to IRAS.

*Please note that IRAS may select PIC applications for further review, even after the cash payout has been made.

 

400% Tax Deduction

Businesses can enjoy 400% tax deduction or allowances of their expenditure per year

 

How to for Claim Tax Deduction

Businesses can make the claim for deduction or allowances in their income tax returns for the relevant YA by the filing due date (15 Apr for sole-proprietorship and partnership; 30 Nov for company).

Terms & Conditions Apply.

 

For more information, please visit:

http://www.iras.gov.sg/irashome/picredit.aspx