PIC Cash Payout Reduction From 60% to 40%
In the recent Singapore Budget 2016, Minister for Finance has announced that the Productivity and Innovation Credit (PIC) Scheme Cash Payout Rate has reduced from 60% to 40%. For PIC 400% Tax Deduction option, it remains unchanged. Let us look at how Government’s aid towards ERP have changed.
How Does The Change Affect Your Company?
- Any qualifying expenditure incurred on or after 1st August 2016 will only be able to enjoy 40% cash payout.
- Paying additional 20% more for any expenses incurred on or after 1st August 2016.
- Cash Payout option is more beneficial for businesses that need fast cash returns
What Should You Do?
- Excellent time to look into system automation with an ERP system
- Make full use of the additional 20% Cash Payout while it is still available to cushion the net cash impact
- Engage with Synergix Technologies as your ERP Partner. Our consultants are highly trained in providing business solutions that are tailored to your needs.
So why wait? Contact one of our friendly consultants now! Alternatively, visit our website at www.synergixtech.com for more information.