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 of PIC cash payout applications with effect from 1 August 2016. Other amendments include the following: Removal of information on the PIC bonus that expired after YA 2015; Removal of the paragraph on the clarification of...