22 July 2014

The IRAS has updated its FAQs on the Productivity and Innovation Credit (PIC) scheme to provide greater clarity on the documents required to support any claim for PIC on expenses incurred on training of employees.

In the updated FAQ, IRAS has provided the following list as examples of the records and documents that businesses must maintain with respect to their training expenditure for which they claim PIC:

(A)  For In-house training not certified by WDA or ITE:

1. Name of course/ training
2. Exact date(s), duration and venue of course/ training
3. Full name, designation and qualification of trainer(s)
4. Full name, identification number (e.g. NRIC), designation and employment period of trainee(s)
5. Course objectives, course outline and a copy of the course handout or training manual
6. Basis and computation of how the training cost was arrived at
7. Itemised breakdown of qualifying expenditure with supporting documents (e.g. timesheet maintained by the trainer(s))

(B)  For In-house training certified by WDA or ITE:

1. Items 1. to 7. under (A)
2. A copy of the certification letter issued by the relevant agencies (WDA or ITE)

(C)  For External training

1. Items 1. to 5. under (A)
2. A copy of invoice
3. Evidence of payment (e.g. bank statement)

The above documents must only be submitted to the IRAS upon request by IRAS.

Source: Inland Revenue Authority of Singapore