The original purpose of the PIC grant scheme in Singapore was to give lucrative incentives for businesses to channel resources towards enhancing productivity and raising the efficiency of operations in businesses and enterprises of all sizes in Singapore. These incentives were provided to SMEs and start-ups in particular as vouchers and grant schemes, one of which is the PIC Grant scheme.
PIC Grant in Singapore initiated in 2010 to begin its operation the following year, PIC Grant is supposed to assist businesses that are qualifying to receive either tax deductions and allowances or cash pay-outs for resources channeled to specific investments that will enhance the innovative capacity and productivity of a business. Examples of such investments include R&D, mechanization and automation, innovation and training.
Now, qualifying activities would be beneficial to the business in that they will increase efficiency and productivity, so the PIC grant scheme in Singapore is just something like an additional perk for the enterprise from the government. The scheme allows for a tax allowance of 400% for amounts spent up to $400,000 before 2015 and $600,000 after. An enterprise that instead wishes to benefit from the cash pay-out package may receive 60% of a maximum of $100,000 per activity per year.
At PICGrant.SG, we offer consultancy for application on various government grant schemes, including the PIC, ICV, CDG, iSPRINT among many others. Applying for PIC grant or any other scheme without the necessary counsel can be very risky, since there are a number of errors that an inexperienced person will be more prone to, causing you to lose your chance at gaining from the scheme.
We, however, have been offering grant consultancy and other services including tax advisory and business financing consultancy for many years, and we are familiar with every detail of the process. We can guide you to ensure your application process for PIC grant scheme Singapore is successful in the long run, and maximize your chances of reaping maximum benefits for your enterprise from the PIC grant or other schemes available.
Signing up with us means that you will be making use of our team of professionals who have not only trained in the nitty-gritty of the grant schemes, but also who have sound backgrounds in the world of finance, and can, therefore, give you financial advice to ensure the ultimate success of your enterprise. Our expertise stretches to cover all areas of finance and marketing, and coupled with our up-to-date analysis of the financial and economic climate of Singapore, your business is in safe hands with us.
Call us today to initiate your application process, so that you can spend your time running your business, knowing that your PIC Grant application will be handled with the highest level of skill and professionalism.