From 1 Aug 2016, the following changes to PIC Cash Payout scheme will take effect:
1. Reduction of cash payout conversion rate for qualifying expenditure incurred on or after 1 Aug 2016 from 60% to 40%; and
2. Mandatory e-Filing of Cash Payout applications. Hardcopy applications will not be accepted from 1 Aug 2016.
From 5 Jul 2016, 2-Step Verification or 2FA is required when you access IRAS’ e-Services using SingPass. For assistance on setting up 2FA for your SingPass, please visit the SingPass website.