Productivity and Innovation Credit (PIC)

SCENARIO The director of Company XYZ purchased a computer in February 2016. He submitted his PIC claim on 01/08/2016. With the recent PIC claim changes announced during the 2016 budget, what is his elgible claim rate? ANSWER The PIC cash payout rate has been reduced from 60% to 40% for qualifying expenses incurred on [...]

By |2017-06-16T13:01:59+00:00August 23rd, 2016|Governments|0 Comments

Singapore Budget 2016 – Why It Matters To Your Business

Budget 2016 changes Changes to Corporate Income Tax Rebate E-filing of Corporate Income Tax Productivity Innovation Credit (PIC) Scheme Foreign worker levy Special Employment Credit (SEC) Extension of Double Tax Deduction (DTD) Business Grants Portal Maritime sector changes On 24 March 2016, the Singapore budget 2016 was delivered by Finance Minister, Mr Heng Swee Keat. [...]

By |2017-06-16T14:22:09+00:00April 25th, 2016|Financial, Governments, Legislation|0 Comments

Tax Planning

To remain competitive, businesses must plan their taxes effectively to minimize their tax liabilities. Tax planning is the process of forecasting one's tax liabilities through the best use of all available allowances, deductions, reliefs and exemptions. Available Tax Incentives The main advantage tax planning is to effectively leverage available tax incentives. The following list shows [...]

By |2017-06-16T14:21:54+00:00March 21st, 2016|Governments, Taxes|0 Comments


The following is extracted from ACRA's website with regards to the new filling requirements. These changes will take effect from 3 January 2016 and these involves the streamlining of the regulatory fee structure that will have some impact for some companies with regards to their annual fees. There 2 important notes which require [...]

By |2017-06-16T13:59:13+00:00December 23rd, 2015|Governments, Legislation|0 Comments