Productivity and Innovation Credit
The Productivity and Innovation Credit (PIC) Scheme was introduced in 2010 to encourage businesses to invest in productivity and innovation.
Companies which meet the qualifying criteria are eligible for 400% tax deductions/allowances or a 40% cash payout for investment in innovation and productivity improvements. The tax benefits under PIC are available for Years of Assessment 2011 to 2018, on investment in any of the 6 qualifying activities:
- Training of Employees
- Purchase/Lease of PIC Automation Equipment
- Acquisition of Intellectual Property
- Registration of Intellectual Property
- Research and Development
- Approved Design Project
Many services provided by Dreamcloud qualify for this scheme. Talk to us today and join our many customers that have benefited from PIC.
More information is available at the Inland Revenue Authority of Singapore’s PIC Microsite.
Get up to 70% of qualifying costs subsidised by IDA!
If you are planning to implement an infocomm solution to improve your business operations, you can contact the Infocomm Development Authority of Singapore (IDA) to get assistance in obtaining iSPRINT funds for your business.
You can send the following documents to firstname.lastname@example.org for a preliminary consultaiton:
- Business Proposal (refer to template)
- Latest ACRA business profile of your company, parent company (if any) and subsidiary (if any)
- Latest ACRA business profile of your appointed ICT solution provider
- Audited financial statements of your company for the last 2 years
- ICT Consultants’ CV and Track Record
- Quotations – you are encouraged to source for multiple quotations to ascertain that the identified solution is value-for-money