PIC
What is PIC Grant ?
The PIC Grant strive to encourage more companies to adopt the PIC scheme by investing in innovation and productivity.
Businesses that spend for a minimum amount of $5,000 in PIC activities in a year will get to receive 60% of the cost in cash rebate from IRAS PIC or 400% tax deduction.
More on PIC
Productivity Software and Customised Application Solution is claimable under the PIC Scheme for these services:- Website development costs (including costs incurred for the one-time registration of a domain name for the website)
- Web Design on Content Management System
- eCommerce System
- Customised Web Application Development
- Mobile Application Development
- ERP System
- active business operations in Singapore; and
- incurred qualifying expenditure during the basis period for the YA in which a PIC Bonus is claimed;
- at least 3 local employees (Singapore citizens or Singapore permanent residents with CPF contributions) for 3 months minimum excluding sole-proprietors, partners under contract for service and shareholders who are directors of the company.
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