PIC Credit Scheme for all local businesses
“It will take time for small heartland retailers to change their mindsets and upgrade their businesses, but the sooner they do, the sooner they will reap the benefits” ~ Minister Teo Ser Luck
“… a good number of shops have started using various schemes and grants, which shows that people are beginning to open up and embrace technology.” ~ Mr Kwek Hong Lim
How it works:
Say you invested $10,000 to build a website, buy 2 notebooks, 1 iPad and 1 printer and submitted for PIC claims. IRAS will pay you $6,000 (60% of investment) under the PIC Credit Scheme and another $10,000 (100% of investment) under the PIC Bonus Scheme. Yes, it not a mistake, you get back $16,000 from IRAS.
IRAS purpose is to help up and ease up the cash flow of companies who has innovated and invested to increase their company’s productivity and capabilities.
Find out how you could benefits from Productivity and Innovation Credit (PIC) which offers tax deductions or cash payout and the Innovation Capability Voucher which you can use to upgrade your business.
Call us at 8263 1460 or email us at firstname.lastname@example.org for free consultation and assistance on how to apply and how to receive both the PIC Credit Scheme from IRAS and ICV Voucher Scheme from Spring Singapore.
You could read up information for both schemes at:
- PIC Credit and PIC Bonus: www.iras.gov.sg/irasHome/PICbonus.aspx
- ICV Voucher scheme: http://www.spring.gov.sg/Enterprise/ICV/Pages/innovation-capability-voucher.aspx#.U2CBp6JpeRo