We always understand that spending on training courses and certification examinations are necessary investment for long-term career development. To make it more affordable for individuals like you, CyberQuote works with leading government institutions and associations to deliver programmes which can help reduce these costs.
A. CITREP II
Critical Infocomm Technology Resource Programme (CITREP) was established by the Infocomm Development Authority of Singapore (IDA) since 1996 with the objective to accelerate the development of emerging, critical and specialised infocomm skills to meet Singapore’s infocomm manpower needs.
CyberQuote’s IT Certifications Eligible for CITREP II
B. Productivity and Innovative Credit (PIC)
Productivity and Innovative Credit allows enterprises to enjoy 400% tax deduction or 60% cash payout for investments in innovation and productivity improvements under the Productivity and Innovation Credit (PIC) scheme. The tax benefits under PIC offered by Inland Revenue Authority of Singapore (IRAS) are available from Years of Assessment (YA) 2011 to 2015, on investments in any of the six qualifying activities, which includes training of employees.
Generally, training fees paid to external training providers (such as CyberQuote) qualify for claim of PIC. This includes registration or enrollment fees, examination fees, tuition fees and aptitude test fees.
There is no restriction on the type of external training that the company’s employees can attend. In-line with the objectives of the PIC scheme, the training should be conducted to improve productivity and innovation amongst employees. In addition, based on general deduction rules, the training expenses must be wholly and exclusively incurred to generate the company’s income.