Productivity and Innovation Credit (PIC)

Business can now enjoy 400% tax deductions/ allowances and/or 60% cash payout for investment in innovation and productivity improvements under the Productivity and Innovation Credit (PIC) scheme. The tax benefits under PIC is available from Year of Assessment (YAs) 2011 to 2015, on investment in any of the six qualifying activities.

From YAs 2013 to 2015, your business may also enjoy a PIC Bonus, a dollar-for-dollar matching cash bonus given on top of the existing 400% tax deductions/ allowances and/or 60% cash payout.

To read more about the PIC scheme click HERE.

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