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PRODUCTIVITY AND INNOVATION CREDIT BONUS

OVERVIEW: PIC BONUS
About PIC Bonus
The Productivity and Innovation Credit (PIC) Bonus gives businesses a dollar-for-dollar matching cash
bonus for YAs 2013 to 2015, subject to an overall cap of $15,000 for all 3 YAs combined.
This is given on top of the existing 400% tax deductions/allowances and/or 60% cash payout (“PIC cash
payout”) under the PIC scheme. To enjoy the PIC Bonus, businesses must have made a claim for the 400%
tax deductions/allowances and/or the PIC cash payout.
The PIC Bonus is taxable.

Last updated on February 28, 2013

Copyright © 2013 Rikvin Pte Ltd

QUALIFYING CONDITIONS
Qualifying Conditions
Businesses eligible for the PIC Bonus are sole-proprietorships, partnerships and companies that have:
• incurred at least $5,000 in PIC-qualifying expenditure during the basis period for the YA in which a PIC
Bonus is claimed;
• active business operations in Singapore; and
• at least 3 local employees (Singapore citizens or Singapore permanent residents with CPF contributions)
excluding sole-proprietors, partners under contract for service and shareholders who are directors of
the company.

Last updated on February 28, 2013

Copyright © 2013 Rikvin Pte Ltd

COMPUTING PIC BONUS
You will receive an equal amount in PIC bonus on every dollar that you spend on qualifying activities,
subject to a cap of $15,000 over YAs 2013 to 2015.

Qualifying PIC Expenditure

OPTION 1:
PIC Cash Payout

OPTION 2:
PIC Tax Credit
PIC Bonus

YA 2013

YA 2014

YA 2015

$5,000

$5,000

$5,000

$3,000
($5,000 x 60%)

$3,000
($5,000 x 60%)

$3,000
($5,000 x 60%)

$3,400 tax deduction $3,400 tax deduction $3,400 tax deduction
($5,000 x 68%)
($5,000 x 68%)
($5,000 x 68%)
$5,000

$5,000

$5,000

$8,000 1

$8,000 1

$8,000 1

or $8,400 2

or $8,400 2

or $8,400 2

Total PIC Benefits

NOTE:
• Choose Option 1 if your business is not currently profitable or if you want a cash payout.
• Choose Option 2 if your business is profitable to reap the maximum tax credit.

Last updated on February 28, 2013

Copyright © 2013 Rikvin Pte Ltd

Helpful Links:
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Offshore Company

RIKVIN PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Line : (+65) 6320 1888
Fax : (+65) 6438 2436
Email : info@rikvin.com
Website : www.rikvin.com
Reg No 200100602K
EA License No 11C3030

This material has been prepared by Rikvin for the exclusive
use of the party to whom Rikvin delivers this material.
This material is for informational purposes only and has
no regard to the specific investment objectives, financial
situation or particular needs of any specific recipient.
Where the source of information is obtained from third
parties, Rikvin is not responsible for, and does not accept
any liability over the content.

Copyright © 2013 Rikvin Pte Ltd


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