Latest Update on PIC Grant (Singapore) for Companies & Businesses

Projects that aid in productivity, i.e. Online stores, E-commerce websites, Online payment integration, HR and Inventory systems, are projects that qualify for PIC Grant, 40% reimbursement of total project fees. All our workshops and trainings are also PIC claimable (40% of fees) if your business or company has 3 CPF employees excluding shareholders and directors.

Latest News from IRAS:

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.

Abstracted from IRAS website: https://www.iras.gov.sg/irashome/Schemes/Businesses/Productivity-and-Innovation-Credit-Scheme/

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