Get Grants to cover the cost of our services and solutions.


PIC stands for Productivity Innovation Credit. It is administered
by Inland Revenue Authority of Singapore (IRAS).

The PIC Grant rewards Singapore companies who innovate and become more productive, and can claim up to a cost of $100,000 (60% at $60,000).

The PIC scheme supports investments in six productivity improvement activities. From YA 2011 to YA 2018, businesses can enjoy huge tax savings in the form of Cash Payout and/or Tax Deduction. From YA 2013 to YA 2015, businesses can also receive PIC Bonus of up to $15,000.



Option 1: Cash Payout

For YA 2011 to YA 2018, you can apply to convert up to $100,000 of your investment spending per year into a non-taxable cash payout at a conversion rate of 60% (40% after 1st Aug 2016).

The cash payout is a good option for small and growing business that has employed at least three local employees (Singapore Citizens or Permanent Residents with CPF contributions).


Option 2: 400% Tax Deduction

For YA 2011 to YA 2018, you can enjoy 400% tax deduction on up to $400,000 of your investment spending per year in software and hardware investments, as well as employee training and coaching.

This means your business will be permitted to a tax deduction of up to $1.6 million (400% x $400,000) for innovative software and hardware investment that boosts productivity.


PIC+ Scheme

From YA 2015 to YA 2018, qualifying SMEs can enjoy an additional $200,000 in qualifying expenditure for each of the six activities per YA. This means that the cap of $400,000 referred to above is increased to $600,000 under the PIC+ Scheme.

To qualify for cash payout, your business must:

  • carry on operation in Singapore and;
  • have revenue of not more than $100 million or employment size of not more than 200 employees. This criterion will be applied at the group level if your business is part of a group.

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