user guide for pic cash payout application form - … · step no. action summary page 1 verify that...

User Guide for PIC Cash Payout Application Form

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Step No.

Action

PIC Cash Payout Application Form: https://mytax.iras.gov.sg/ESVWeb/default.aspx?target=PICCashPayout

Note: 1.  Please maximise your browser

window by clicking on the button “!” at the upper-right corner if you are using windows and the green button “ “ on the upper-left corner if you are using Mac.

2.  Your session will timeout if you leave it idle for more than 20 minutes.

3.  Do not use the back button on your browser.

4.  There is no temporary save function.

5.  You can click on the I-Help icon to display the explanatory notes if you require assistance.


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Step No.

Action

Declaration Page

1 Complete the Business Information section [part (A)].

2 For sole-proprietorships, •  fill in the sole-proprietorship’s

details in part (A), •  select “Yes” in part (B), and •  fill in the sole-proprietor’s

details in part (C). If your sole-proprietorship is owned by a company, fill in the company’s details in part (C).

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(A)

(C) (B)

Step No.

Action

Declaration Page

1 Complete the Declaration information section.

2 Click Next.

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Step No.

Action

Details of Cash Payout Claim Page

1 Complete the Details of Cash Payout Claim section.

2 Click Next.

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Step No.

Action

Details of Qualifying Cost – Annex A1 Page

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To add details of any PIC activities, click the corresponding Add Details links.

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Step No.

Action


1 Enter the details of the qualifying activity.

Note: 1.  If you require any assistance

in filling up the details of the qualifying activity, please click on the respective I-Helps.

2 Click Add Row to save the details. Otherwise, click Cancel.

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Step No.

Action


1 • To add details of more qualifying activities, click the corresponding Add Details links. • To edit an existing entry, click Edit • To delete an existing entry, click Delete.

2 Complete the declaration section.

3 • If you have not incurred qualifying R&D and Approved Design Project expenditure, click Proceed to Summary to go to the summary page. • To add details for qualifying R&D and Approved Design Project, click Next.

Note: 1.  If you have purchased equipment

in hire purchase (HP) terms, please complete and submit the HP template together with your PIC cash payout application form.

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Step No.

Action


1 To add details of qualifying R&D and Approved Design Projects, click the corresponding Add Details links.

2

To add R&D details, complete the questionnaire and click Add R&D Details/Expenditure.

Note: 1.  If you require any assistance in

understanding the questions, please click on the respective I-Helps.

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Step No.

Action


1 Enter the details of the qualifying R&D expenditure.

Note: 1.  If you require any assistance in

filling up the details of R&D, please click on the respective I-Helps.

2 Click Add Row to save the details. Otherwise, click Cancel.

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Step No.

Action


1 Complete the declaration section.

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Click Proceed to Summary to go to the summary page.

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Step No.

Action

Summary Page

1 Verify that the information entered is correct.

2 • To print the completed PIC cash payout application form for submission, click Print. • To edit your entries, click Back.

Note: 1.  Ensure that you have disabled

the pop-up blocker of your browser (see next page).

2.  Refer to the recommended printer settings at the next page.

3.  To complete your PIC cash payout application, sign on the printed form and submit it, together with the relevant annexes and HP template (if applicable) to: IRAS 55 Newton Road Revenue House Singapore 307987

3 To make another PIC cash payout application, click Start a new application.

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Disabling Pop-up Blocker

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•  Click on the links below for information on how to disable pop-up blockers for the respective browsers: –  Microsoft Internet Explorer –  Mozilla Firefox –  Google Chrome –  Apple Safari

Note: All hyperlinks to third party websites are provided as a convenience to you as a user of the PIC cash payout application form. The inclusion of any hyperlink does not imply endorsement by IRAS of such websites. In (or "Under") no circumstances shall IRAS be considered to be associated or affiliated in whatever manner with any trade or service marks, logos, insignia or other devices used or appearing on websites to which this page is hyperlinked. The services provided by any private sector websites which this page is hyperlinked to are not public services nor are they endorsed by the Government or IRAS.

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Sample Printout

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33000

Productivity and Innovation Credit (PIC) Cash Payout Application Form

Please sign and submit the form with the relevant Annexes to IRAS, 55 Newton Road, Revenue House, Singapore 307987.Under the Singapore Income Tax Act, penalties will be imposed for making a false or incorrect declaration.

The cash payout is capped at $60,000 per YA, and is credited after offsetting any outstanding taxes.

Part A - Declaration

1. I declare that the information given in this form and annexes is true and complete.2. I declare that the business is still in operation and has met the conditions of employing and making CPF contributions for at least 3

local employees (excluding sole-proprietors, partners under contract for service and shareholders who are directors of the company) inthe relevant month(s).

3. I understand that the election to convert the qualifying costs incurred into a cash payout option is irrevocable and undertake that noclaim will be made in the tax return on those costs.

4. I confirm that the qualifying costs claimed have been incurred (i.e. due and payable) in the relevant period and are net of anygovernment grants/subsidies, including those pending approval.

5. I declare that the business has not exceeded the combined expenditure cap per qualifying activity for PIC.Authorised Person Contact PersonSignature Full Name John TanFull Name John Tan Designation/Relationship DirectorDesignation Director Contact numberDate 08/11/2014 Email [email protected]

Part B - Business Particulars

1. Business Information

i) Name of business: ABC Pte Ltd

ii) Tax reference no. of business: 200988888M iii) Accounting year-end: 31/10

Office use

2. Sole-proprietor's Information

i) Full name of individual / company:

ii) Tax reference no. of individual / company:

Part C - Details of Cash Payout Claim

1. Year of Assessment (YA) of claim 2015

2. Relevant financial period 1/11/2013 to 31/10/2014

3. Revenue for relevant financial period (S$) 837,438

4. Qualifying cost to be converted into cash payout S$a) PIC information technology (IT) and automation equipment

Claim includes hire-purchase equipment.6,433

bi) In-house training NOT certified by WDA or ITE 0

bii)External and certified in-house training 0

c) Intellectual property rights acquisition and in-licensing 0

d) Patents, trademarks, designs and plant varieties registration 0

e) Research and development activities 0

f) Approved design projects 0

TOTAL (from a to f) 6,433

For Office Use 1 2SAMPLE

33000/1

PIC Cash Payout Application Form

ANNEX A1

PIC IT and Automation Equipment / Training / Intellectual Property Rights AcquisitionIn-Licensing / Registration of Patents, Trademarks, Designs and Plant Varieties

Please submit this Annex together with your PIC cash payout application form

Business Particulars

i) Year of Assessment of Claim: 2015 ii) Business tax reference no.: 200988888M

iii)Name of business: ABC Pte Ltd

Details of Qualifying PIC Expenditure

No. Date Incurred PIC Activity Description Qualifying Cost (S$)

1 08/05/2014 Cash purchase of PIC ITand automation equipment

1 PC Acer AspireModel number: AZ3771Serial number: 65577436

6,433

Total 6,433

SAMPLE

Recommended Printer Settings

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•  Follow the instructions to set the printer settings for the respective operating systems and browsers:

Windows Microsoft Internet Explorer Mozilla Firefox Google Chrome

Mac

Apple Safari

Mozilla Firefox Google Chrome

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Step No.

Action

Printer Settings (IE – Windows)

1 Right click at any spot.

2 Select Print Preview.

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Step No.

Action


3 Select Page Setup.

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Step No.

Action


4 Select ‘A4’ for Paper Size.

5 Enter ‘4.11mm’ for Margins.

6 Enable ‘Shrink-to-fit’.

7 Select ‘Empty’ for all 6 options under Headers and Footers.

8 Click ‘OK’.

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Step No.

Action


9 Close the Print Preview.

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Step No.

Action

Printer Settings (Firefox – Windows)

1 Click on ‘Firefox’.

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Step No.

Action


2 Select ‘Print’.

3 Click ‘Page Setup’.

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Step No.

Action


4 Check ‘Shrink to fit Page Width’.

5 Click ‘Margins & Header/Footer’.

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Step No.

Action


6 Enter ‘4.1 mm / 0.16 in’ for Margins.

7 Select ‘Blank’ for all 6 options under Headers and Footers.

8 Click ‘OK’.

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Step No.

Action

Printer Settings (Chrome – Windows)

1 Click on the ‘Customise and control Google Chrome’ button.

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Step No.

Action



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Step No.

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3 Select ‘Minimum’ for Margins.

4 Uncheck ‘Headers and footers’.

5 Click ‘Cancel’.

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Step No.

Action

Printer Settings (Safari – Mac)

1 Click ‘File’.

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Step No.

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Step No.

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3 Uncheck ‘Print headers and footers’.


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Step No.

Action

Printer Settings (Firefox – Mac)

1 Click ‘File’.

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Step No.

Action



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Step No.

Action


3 Check ‘Ignore Scaling and Shrink To Fit Page Width’.

4 Select ‘Blank’ for Page Headers and Page Footers.


Instructions for Firefox (Mac)

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Step No.

Action

Printer Settings (Chrome – Mac)

1 Click on the ‘Customise and control Google Chrome’ button.

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Step No.

Action



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Step No.

Action


3 Select ‘Minimum’ for Margins.

4 Uncheck ‘Headers and footers’.


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