The Inland Revenue Authority of Singapore has published the fifth edition of the e-Tax guide on the Productivity and Innovation Credit (PIC) Scheme. The latest edition incorporates the following Budget 2016 changes:

• Expiration of the PIC Scheme in YA 2018;
• Reduction in the PIC cash payout rate from 60% to 40% for qualifying expenditure incurred on or after 1 Aug 2016; and
• Compulsory e-Filing …