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What is pic?
PIC stands for Productivity and Innovation Credit, a scheme introduced by the Singaporean government to encourage businesses to invest in automation and innovation.
Who is required to file pic?
All businesses in Singapore that are eligible for the PIC scheme are required to file PIC claims.
How to fill out pic?
PIC claims can be filled out online through the Inland Revenue Authority of Singapore (IRAS) website.
What is the purpose of pic?
The purpose of PIC is to incentivize businesses to invest in automation and innovation to improve productivity.
What information must be reported on pic?
Businesses must report their qualifying expenditure on automation equipment, training costs, research and development activities, and approved design projects.
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