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Productivity & Innovation Credit (PIC) Scheme. Share: The PIC scheme has expired after the Year of Assessment (YA) 2018. Businesses are not allowed to claim PIC benefits on expenditure incurred after the basis period of YA 2018. On this page: How the PIC Scheme Benefits You. 6 Qualifying Activities.
Jun 12, 2023 · Pharmaceutical Inspection Co-operation Scheme (PIC/S) Leading the international development, implementation and maintenance of harmonised GMP standards and quality systems of inspectorates in the field of medicinal products
Tax Deductions/ Allowances under the PIC+ Scheme. As announced in Budget 2014, from YAs 2015 to 2018, qualifying businesses can enjoy 400% tax deductions/ allowances on up to $600,000 (instead of $400,000 as mentioned above) of their expenditure per YA in each of the 6 qualifying activities under the PIC+ Scheme.
The PIC+ scheme is available from YAs 2015 to 2018. Under the PIC+ scheme, the expenditure cap for qualifying SMEs is increased from $400,000 to $600,000 per qualifying activity per Year of Assessment (YA).
Publications. Since its creation, PIC/S has been active in the development and promotion of harmonised GMP standards and guidance documents. The main instrument for harmonisation has been the PIC/S GMP Guide.
PIC Scheme in Singapore. Introduced in Budget 2010, and later enhanced in Budgets 2011, 2012, 2013 and 2014, the PIC scheme encourages businesses to get significant tax deductions or payouts for investments in research and development, innovation, automation and training.
The Pharmaceutical Inspection Convention and Pharmaceutical Inspection Co-operation Scheme (PIC/S) are two international instruments between countries and pharmaceutical inspection authorities.
Aug 25, 2023 · Accession Requirements. PIC/S membership is open to GMP Inspectorates having an inspection system comparable to that of other PIC/S Members (Article 8 of the PIC Scheme).
Aug 30, 2021 · SINGAPORE: Thirty-six people were charged in court for offences related to a Productivity and Innovation Credit (PIC) scheme fraud involving S$11.8 million, police said in a news release on...
Productivity and Innovation Credit (PIC) scheme. Business can 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.
