News & Events

PIC Scheme - Hurry Up!!

The Productivity & Innovation Credit (PIC) Scheme will lapse after YA 2018.

From 1 Aug 2016, the following changes to PIC Cash Payout scheme will take effect:
1. Reduction of cash payout conversion rate for qualifying expenditure incurred on or after 1 Aug 2016 from 60% to 40%; and
2. Mandatory e-Filing of Cash Payout applications. Hard-copy applications will not be accepted from 1 Aug 2016.

1 Jul 2016

18th SME Conference, 19th ICC & SME Expo 2016

Date: 17 & 18 Aug 2016
Venue: Suntec Convention Centre Hall 404 to 406

We are at Booth-B16 ! See you there !

16 Jun 2016

2016 SCCCI Seminar - Riding Through Economic Turbulence

Date: 26 May 2016
Time: 9am to 12pm
Main speaker: Ms Vivienne Chiang

(1) What is the economic challenges in 2016
(2) How does these economic conditions affect and impact SMEs
(3) What are initiatives available to address the challenges and how can SMEs ride on them
(4) Some strategies that SMEs can adopt

26 May 2016

Amendments to Employment Act

From 1 April 2016, all employers will be required to issue itemized pay slips and key employment terms (KETs) to employees covered under the Employment Act.

Please refer to for more information.

1 Apr 2016

Business News : Accounting firms diversifying

Accounting firms diversifying... see us on The Straits Times!

31 Mar 2016

Budget 2016 Highlights & The Tax Implications

For All Business
• Enhancing the Corporate Income Tax Rebate to 50% for YA 2016 and YA 2017
• Allowing the Productivity and Innovation Credit (“PIC”) Scheme to lapse in YA 2019
• Lowering the PIC cash payout rate to 40%
• Mandatory e-Filing for CIT returns
• Mandatory e-filing for PIC cash payout application
• Double up the Mergers & Acquisitions (M&A) allowance to S$40mil
• Extending the Double Tax Deduction (“DTD”) for Internationalisation scheme to 31 March 2020
• Providing an election for the writing-down period for intellectual property rights (“IPR”)
• Introducing the Business and IPC Partnership Scheme (“BIPS”)
• 100% Investment Allowance (“IA”) under the Automation Support Package
• Extending the Special Employment Scheme to 2019

For All Individual
• Introducing a cap of S$80,000 on personal income tax reliefs since YA 2018
• Removal of 20% tax concession on home leave passages for expatriate employees

For more information, please refer to

31 Mar 2016

Productivity and Innovation Credit (PIC) Scheme

6 Qualifying Activities
1. Training of Employees
2. Purchase / Leasing of PIC IT and Automation Equipment
3. Acquisition/Licencing of Intellectual Property
4. Registration of Intellectual Property
5. Research and Development
6. Approved Design Project


Tax Deduction / Allowances
400% tax deductions/allowances on up to $400,000 expenditure per year in each of the 6 activities.

Cash Payout
Opt for cash payout of 60% of expenditure on each of the 6 qualifying activities capped at 60,000 per YA

PIC+ Scheme
From YA 2015, qualifying SME that invest in excess of the combined cap of $1.2 million in any of the 6 qualifying activities will enjoy enhanced deduction/allowance on an additional amount of 200,0000 for each qualifying activity per YA. Capped at a combined about of $1,400,000 for YA2013 to YA2015 and $1,800,000 for YA2016 to YA2018

25 Aug 2015

KYC celebrated 20 years of service

logo-20 Established in 1994, KYC Group celebrated 20 years of service to our clients!

10 Mar 2015