PRODUCTIVITY AND INNOVATION CREDIT (PIC)

You can receive 40% cash back on your registration fee and expenses via the IRAS Productivity and Innovation Credit (PIC). Read more...

Under the PIC Scheme, businesses enjoy tax deductions/allowances for qualifying expenditure incurred in any of six qualifying activities including external training and seminars from the Years of Assessment (YAs) 2011 to 2018.

 

Just follow these simple steps:

  1. Register and pay for the conference keeping a record of your receipts
  2. Attend the event
  3. Get your accounts department to complete the PIC form here

 

Administrative Requirements

IRAS advises keeping proper records and documents of your training expenditure to support your PIC claims. You only need to submit these documents if asked by IRAS to do so.

  • Name of course/training
  • Exact date(s), duration and venue of course/training
  • Full name, designation and qualification of trainer(s)
  • Full name, identification number (e.g. NRIC), designation and employment period of trainee(s)
  • Course objectives, course outline and a copy of the course handout or training manual
  • A copy of the invoice(s) issued by the external training provider
  • Evidence of payment (e.g. bank statement)