Benefits for Singapore Taxpayers
Productivity and Innovation Credit
The Singapore Government offers Productivity and Innovation Credit ("PIC") to taxpayers, providing significant tax deductions and cash payouts for investments in training.
Businesses can enjoy tax deductions at 400% on up to $400,000 of their expenditure per year on training. Small but growing businesses have the option to convert up to $100,000 (subject to a minimum of $400) of their total training investment into cash payout.
Please visit IRAS for more information on your eligibility and application procedure.
Benefits for Singapore Taxpayers
Productivity and Innovation Credit
The Singapore Government offers Productivity and Innovation Credit ("PIC") to taxpayers, providing significant tax deductions and cash payouts for investments in training.
Businesses can enjoy tax deductions at 400% on up to $400,000 of their expenditure per year on training. Small but growing businesses have the option to convert up to $100,000 (subject to a minimum of $400) of their total training investment into cash payout.
Please visit IRAS for more information on your eligibility and application procedure.