The PIC Bonus was introduced to provide taxpayers with additional tax incentives to increase their productivity by incurring qualifying expenditure on the 6 qualifying activities. However, it has come to my attention that there are consultants out there who encourage their clients to incur expenditure on website development because of getting cash from the Singapore Government.
What are the pitfalls of the consultants’ advice? Are there requirements the taxpayers should be aware of? We are pleased to prepare our second video to help our viewers to get clarity of these concerns once and for all.
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P.S.: WHM Consulting Pte Ltd do not provide our clients with any PIC consultation as the Singapore tax authorities have warned taxpayers of engaging external consultants for PIC advice given the fact that the PIC claim is straightforward.