Person who Prepared and Submit PIC Cash Payout Application Form
1. Full name;
2. Identification number;
3. Relationship of person who prepared and submitted your application form, if the form was not prepared and submitted by the company’s director.
Business Details
1. Describe the business activities, e.g. what does the company sell;
2. Address and place of business operation;
3. Copies of purchase invoices relating to the operation of your business (e.g. rental, utility, payments, goods/ stocks purchased);
4. Payment evidence of your purchases in point c (e.g. bank statement — please underline the relevant transactions).
Revenue and Sales Transactions
1. Copies of sales invoices issued to your top 3 customers to substantiate the revenue declared in your PIC cash payout application form;
2. With respect to the revenue declared in your PIC cash payout application form, provide a listing with a description of the goods sold/services rendered for each sales transaction including the date of transaction, full name of customer and sales amount;
3. Bank statements showing receipts of revenue from your business activities — please underline the relevant transactions;
4. CPF record of payment for the last month of the relevant financial period of claim;
If the revenue declared in your PIC cash payout application form is “o”, please also let us know the date of commencement of business, your basis for saying so and forward relevant documents to support your claim.
PIC IT and Automation Equipment (applies to all equipment except software, website and mobile application)
For each equipment that cost more than $1,000, please provide:
1. Copy of the invoice(s);
2. Date of delivery of the equipment and a copy of the delivery note/ order;
3. Documentary evidence of payment (e.g. bank statement — please underline the relevant transactions);
4. Means of financing the purchase;
5. Explain how the equipment is used in the company’s business and state the full name of the employee(s) using the equipment;
6. Confirm that the company and its directors/ shareholders are not in any way related* to the equipment vendor. Otherwise, please:
– State the relationship;
– Explain the circumstances leading to the acquisition from the vendor;
– State the open market value for the above equipment (support with brochures/ price list from non-related equipment suppliers).
PIC IT and Automation Equipment (applies to software, website and mobile application)
1. A copy of the invoice(s);
2. Documentary evidence of payment (e.g. bank statement — please underline the relevant transactions);
3. Means of financing the purchase;
4. State the commencement date of the software/ website/ mobile app development;
5. State the completion date of the software/ website/ mobile app development;
6. For hardware:
– List the equipment which PIC is claimed and the corresponding serial numbers;
– Indicate the location of the equipment; and
– Describe who uses the equipment and for what purposes.
7. For software:
– State the date it was installed;
– State the date it was in use;
– Describe the functions/ features of the software and provide documentary evidence that the software is in use (e.g. screenshots of the software showing each module, function and feature).
– State the name of the app, platform(s) uploaded and date published on each platform;
– Provide a link to the mobile app; and
– Provide screenshots of the mobile app.
8. Explain the circumstances leading to the acquisition from the vendor;
9. State the open market value for the above transaction and provide supporting documents to substantiate your claim;
10. For website, provide the URL;
11. For mobile app:
– Explain how the software/ website/ mobile app is used in the company’s business, and how it has improved the productivity of the company;
-Describe and provide supporting documents on the internal analysis/ feasibility study carried out by the company to arrive at the decision to engage the vendor for the software/ website/ mobile app, including but not limited to obtaining a few quotations from a few vendors. If none, please explain why;
– Confirm that the company and its directors/ shareholders are not in any way related* to the software/ website/ mobile app vendor. Otherwise, please:
* E.g Related by way of common director/ shareholder/ ownership in both the company and the software/ website/ mobile app business.
Training of Employees (For External Training)
1. Full name, identification number (e.g. NRIC), position and employment period of staff who attended the course;
2. Course objectives;
3. Course outline and training materials;
4. Date(s) of training;
5. Venue of course;
6. Full name and contact details of trainer;
7. Now the above helps in the company’s business and improves the company’s productivity;
8. A copy of the course attendance certificate;
9. A copy of invoice(s);
10. Documentary evidence of payment (e.g. bank statement — please underline the relevant transactions);
11. Describe and provide supporting documents on the internal analysis/ feasibility study carried out by the company to arrive at the decision to engage the training provider, like obtaining a few quotations from a few vendors. If none, please explain why.
For in-house Training:
1. Date, duration and venue of training;
2. Full name, designation and qualification of trainer(s);
3. Full name, designation and employment period of trainees;
4. Course outline and a copy of the course handout or training manual;
5. Itemized breakdown of the cost claimed with supporting documents (e.g. timesheet maintained by the trainer(s);
6. Basis on how the training cost was arrived at.
Employee Details
1. Details of your 3 employees as follows:
2. Full name of Employee
3. NRIC
4. Contact Number
5. Qualification
6. Designation, Duties and Responsibilities
7. Period of Employment
8. Relationship to Company’s Directors or Shareholders (if any)
9. Gross Salary
10. No. of working hours per month
11. In respect of the 3 employees above, forward copies of their employment contracts with the company and all payment evidence of salaries to each employee;
12. Detailed description of work done by the 3 employees, with supporting documents;
More information on the following:
– IRAS Queries on Revenue, Gross Profit and Record Keeping;
– IRAS Queries on Expenses Claimed by Businesses; and
– IRAS Queries on Specific Expenses.