Singapore legislation
Regulation 3
of Income Tax (Productivity and Innovation Credit Plus Scheme) Regulations 2015
Regulation 3
Meaning of “PIC provisions”, “affected amounts”, “subsection (2) amounts” and “qualifying expenditure”
Subregulation 1
In these Regulations, a PIC provision is —
in the case of Part 2 of these Regulations, section 14A(1B), 14DA(2), 14R(2), 14S(2), 14T(2), 14W(1), 19A(2B) or 19B(1B) of the Act; or
in the case of Part 3 of these Regulations, section 14A(1BA), 14DA(2), 14R(2A), 14S(2AA), 14T(2A), 14W(4), 19A(2BAA) or 19B(1BAA) of the Act.
Subregulation 2
In these Regulations, the affected amount of a PIC provision is —
if the PIC provision is section 14DA(2) of the Act —
the sum of the amounts represented by the letters U, V, W and X in that provision that pertain to the year of assessment in question; or
if the sum referred to in sub-paragraph (i) exceeds the specified amount in section 14DA(4) of the Act (as modified by regulation 5, 7, 9 or 11) that pertains to that year of assessment, the sum of the amounts represented by the letters Y and Z in section 14DA(2) of the Act that pertain to that year of assessment; or
if the PIC provision is any other PIC provision, the amount represented by the letter A in the PIC provision that pertains to the year of assessment in question.
Subregulation 3
In these Regulations, “subsection (2) amount”, in relation to any year of assessment, has the meaning given to that expression in section 14DA(6) of the Act.
Subregulation 4
In these Regulations, the qualifying expenditure for a PIC provision in the first column of the following table is the expenditure set out opposite that PIC provision in the second column of the table:First columnSecond columnPIC provisionExpenditureSection 14A(1B) or (1BA) of the ActQualifying intellectual property registration costs as defined in section 14A of the ActSection 14DA(2) of the ActQualifying expenditure as defined in section 14DA of the ActSection 14R(2) or (2A) of the ActQualifying training expenditure as defined in section 14R of the ActSection 14S(2) or (2AA) of the ActQualifying design expenditure as defined in section 14S of the ActSection 14T(2) or (2A) of the ActExpenditure on the leasing of any PIC automation equipment, or procuring of cloud computing services as defined in section 14T of the ActSection 14W(1) or (4) of the ActExpenditure on the licensing from another of any qualifying intellectual property rights as defined in section 14W of the ActSection 19A(2B) or (2BAA) of the ActCapital expenditure on the provision of any PIC automation equipment (including any capital expenditure treated as capital expenditure incurred on the provision of PIC automation equipment under section 19A(16A) of the Act)Section 19B(1B) or (1BAA) of the ActCapital expenditure on acquiring any intellectual property rights.