Leverage on Singapore's most comprehensive and generous Workforce Skill Upgrade program. All our training programs are now eligible toward this cash back benefit -Its easy to sign up and even easier to get cash back.
What is PIC Cash Reinbursment?
Administered by the Inland Revenue Authority of Singapore (IRAS), All tax paying eligible businesses in Singapore can opt to convert training expenditure to a non taxable cash payout of rate of 60% for YA 2013, YA 2014 and YA 2015. The maximum cash payout is $60,000 for each YA. This is based on 60% of expenditure cap of $100,000 for each YA (but not less than $400)
This means you can opt for a total cash payout of up to $60,000 for each YA
Who is Eligible for PIC Cash Payouts?
- incur the qualifying expenditure during the basis period;
- employ at least 3 local employees (Singapore Citizens or Permanent Residents with CPF contributions)
- are carrying on business operations