In IRAS PIC claim cases, business organizations have two choices.
The primary choice is to claim 400% tax deductions or recompenses against their wage.
The second alternative is to convert the qualifying expenditure of the business into a cash payout.
For instance, a qualifying use may aggregate to $2000 when converter to a cash payout.
This expenditure may likewise qualify for the 400% tax deduction.
All things considered, a business ought to pick either the cash payout or the tax deduction; and not both. At the point when a business makes both claim cases, this is termed as a duplicate of claim which is an offense.
- Claiming PIC on non-qualifying expenditure
- PIC Over Claim