PIC Claim
PIC, if you have not heard of this term yet, is known as the Productivity and Innovation Credit, a government grant for businesses in Singapore to improve their operations. It’s objective is to encourage Singapore businesses to upgrade their business capabilities by investing in productivity and innovation related activities.
As expenditure on Corporate Websites, eCommerce Online Shops as well as Customized Software is claimable under this PIC Scheme, SCWS is glad to inform you that at least 60% of the amount paid to us for your Corporate Website, eCommerce Online Shop or Customized Software can be claimed back through this PIC Scheme.
3 Main Conditions that a Company needs to fulfil in order to claim for PIC:
- Expenditure needs to be incurred in the basis period for the qualifying YA or financial year
- Business needs to be active
- The company needs to have 3 local employees with CPF contributions on the last month of the quarter or entire year which the payout option relates
The overall procedure for the PIC Claim is rather straightforward if your business satisfies the 3 Main Conditions stated above therefore SCWS is most willing to help our clients submit a PIC Claim if they wish to.
Please do note that we are only providing this service as a form of goodwill for our clients as no charges will be involved for this additional after sales service.
For more information on PIC, you may like to visit the Official IRAS page @ Click Here