This means that for every $1 that you spend on any of the 6 qualifying activities, you can either enjoy a $4 deduction on your payable taxes, or receive $0.40 in a non-taxable cash payout.

However, if you are investing more intensively in your business and are spending more than S$400,000, there is the PIC+ scheme for you. Under this scheme, the cap on your 400% tax deduction is raised to S$600,000 per YA.

• Acquisition and Leasing of PIC IT and Automation Equipment
• Training of Employees
• Acquisition and Licensing of Intellectual Property Rights (IPR)
• Registration of Patents, Trademarks, Designs and Plant Varieties
• Research and Development (R&D) Activities
• Design Projects Approved by DesignSingapore Council

If you have been looking to upgrade your website to a powerful portal with e-commerce, customer relationship management, booking and scheduling capabilities, HR and payroll, billing, enterprise resource planning or any other functions, we have the skill set and the experience to collaborate with you to create the solution you need. Or maybe you’ve set up a new company, and want a brand-new website.

Your new portal will be applicable for the PIC scheme under Acquisition and Leasing of PIC IT and Automation Equipment.

According to IRAS, all businesses, including sole proprietorships, partnerships, companies, registered branches and subsidiaries of a foreign parent or holding company, are eligible for PIC! However, you must carry on active business operations in Singapore.

If you are opting for the cash payout instead of tax deduction, your company must have at least 3 local employees excluding sole-proprietors, partners under contract for service and shareholders who are directors of the company. The minimum qualifying expenditure must also be at least S$400.

YES! All NEW websites qualify for PIC. Previously, only websites that have functions that demonstrably increase productivity and innovation qualify, meaning websites had to include functions such as e-commerce, customer relationship management, booking and scheduling capabilities, HR and payroll, billing, enterprise resource planning or others.

Now, as long as your website is brand-new and is up and running by the time you apply for PIC, it qualifies! And you know what? Web design and development just so happens to be one of UtoMedia’s strengths. 😉 Check out our portfolio to see for yourself!

As much as we’d like to do it for you, unfortunately, IRAS requires you to apply for it yourself. What we can do for you, however, is guide you on the process. We will furnish you with all the necessary documents and information. Rest assured that all our invoices and quotations will be compliant with PIC requirements to ensure as smooth an application as possible.

How much you can claim depends on:

1. how much you spend and
2. whether you are claiming as a tax deduction or cash payout

If you decide on a package that costs S$3000, for example, the calculations will be as follows:

According to IRAS:

IRAS strives to disburse the cash payout within three months of receiving your complete application. In most cases, IRAS processes the applications within six weeks.

IRAS selects a sample of applications for audit. For cases selected for audit, IRAS will request further details and supporting documents for review. We strive to complete the review within three months from receiving the complete information. The processing time may take up to six months, depending on the complexity of each case.

Please note that IRAS may also select PIC applications for further review, even after disbursing the cash payout.

Yes!