{"id":185,"date":"2015-10-14T10:58:49","date_gmt":"2015-10-14T02:58:49","guid":{"rendered":"http:\/\/www.taxmadeeasy.sg\/?p=185"},"modified":"2020-08-19T16:48:00","modified_gmt":"2020-08-19T08:48:00","slug":"pic-cash-payout","status":"publish","type":"post","link":"https:\/\/www.taxmadeeasy.sg\/pic-cash-payout\/","title":{"rendered":"PIC Cash Payout (Part 2) \u2013 Applying for cash payout"},"content":{"rendered":"
There are 2 ways that your company can go about electing for PIC cash payout.<\/p>\n
<\/p>\n
a) Manual submission<\/p>\n
Please keep a copy of the form submitted to IRAS for record purposes.<\/p>\n
Once the application is received and approved by the Comptroller of Income Tax (\u2018\u2019CIT\u2019\u2019), IRAS will mail a letter to the company’s registered address.<\/p>\n
If your company has previously applied for GIRO payment with IRAS, the cash payout will be deposited to the registered GIRO account. Otherwise, the IRAS will issue a cheque to the Company.<\/p>\n
(Refer to article \u2013 \u2018\u2019Payment on different taxes\u2019\u2019 for more information on GIRO payment scheme.<\/p>\n
b) Online submission (You must first be authorized to use the company\u2019s EASY access code)<\/p>\n
Similar to manual submission, once the application is received and approved by the CIT, IRAS will mail a letter to the company’s registered address.<\/p>\n
In the event that the company\u2019s PIC cash payout application is not successful, the CIT will state the reason for the disapproval in the reply letter.<\/p>\n<\/li>\n<\/ol>\n","protected":false},"excerpt":{"rendered":"
There are 2 ways that your company can go about electing for PIC cash payout.<\/p>\n","protected":false},"author":1,"featured_media":186,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"yoast_head":"\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\n\n\t\n