PIC Grant

Singapore grant – PIC Cash Payout

Claim back 160% of how much you spend on our products and services, we will provide you with everything you’ll need to file the claim. Talk to us for our past cases and how we sucessfully manage to help their business and file their claim.

What grants are there to help increase productivity?

Singapore companies can benefit from a number of grants to help their business grow.
The below is more details on the PIC grant that we’ve help our clients sucessfully get.
If you are keen on getting your own website or transforming your manual work process into an
automated process by using a customized software, talk to us and we will provide you with everything you’ll need.

PIC

 

What is PIC?

The Productivity and Innovation Credit (“PIC”) was introduced in the Singapore Budget 2010.

PIC has been enhanced in Budget 2011 to provide tax benefits for investments by businesses in a broad range of activities along the innovation value chain. The tax benefits under PIC will be effective from Years of Assessment (YA) 2011 to YA 2018. (updated in 2014 Budget)

The six activities along the innovation value chain that will qualify for PIC benefits are:

1. Acquisition or leasing of PIC Automation Equipment;
2. Training of employees;
3. Acquisition of Intellectual Property Rights;
4. Registration of patents, trademarks, designs and plant varieties;
5. Research and development activities; and
6. Investment in approved design projects.

This is great news for you if your business is a sole-proprietorship, partnership and company (Pte Ltd) with at least 3 local employees (Singapore citizens or Singapore permanent residents with CPF contributions) excluding sole-proprietors, partners under contract for service and shareholders who are directors of the company.

Your business can enjoy 60% cash payout for investment in innovation and productivity improvements under the Productivity and Innovation Credit (PIC) scheme. The tax benefits under PIC are available from Years of Assessment (YAs) 2011 to 2015 and our software and services are eligible for the claim.

With further great news! Introduced in the Budget 2013, PIC Bonus gives businesses a dollar-for-dollar matching cash bonus for YAs 2013 to 2015, subject to an overall cap of $15,000 for all 3 YAs combined. That means you get to claim back 160% of how much you spend on our products and services.* We will provide the information need and aid in the process of claiming PIC.