On 19 September 2014, the Inland Revenue Authority of Singapore issued a revised e-Tax Guide on the Productivity and Innovation Credit (PIC). The PIC was initially available for years of assessment 2011 to 2015, but has been extended to 2018.
The credit is a 400% deduction or capital allowance for the following 6 types of expenditures with a cap of SGD 400,000 per years of assessment:
- Acquisition or leasing of prescribed automation equipment
- Acquisition or licensing of qualifying intellectu…