Grants and Funding for IT Solutions
The PIC Scheme was introduced by the Singapore Government to encourage businesses in Singapore to improve their capabilities and enhance competitiveness by investing in a range of qualifying activities that improve productivity and facilitates innovation. We highly recommend and encourage all businesses to take advantage of the PIC scheme, as all of our products and services offered below are claimable for PIC .
All SMEs are eligible for the PIC grant, which is available for up to 5 years. However, all the qualifying expenditure must be incurred between the basis periods for Years of Assessment (YA) 2011 to 2018.
Likewise, all businesses also enjoy a PIC Bonus from YAs 2013 to 2015 – a dollar-for-dollar matching cash bonus offered in addition to the 400% tax benefits and 60% cash payout
The following example shows how much you can get back via the PIC Grant.
a. Assuming Company X invests $15,000 in IT Software
IRAS will pay Company X $15,000 (as PIC Bonus, $1 to $1 matching) AND IRAS will pay Company X 60% of $15,000 which is $9,000.
So in total, Company X will get back $24,000 but the investment made by Company X is only $15,000!
To know more about PIC Grants , click here.
IT Solutions Eligible for PIC Grants
Project Management Tool - CANEA Projects
IT Service Management Tool – ServiceNow, Remedy
Performance Management -QPR Metrics
Process Improvement -QPR Process Analyser&Enterprise Architect
Data integration – Fiorano Enterprise Data Integrator (including Cloud &SAP)
Document Management Tool - CANEA Docpoint , Secure Dropbox
Business Intelligence&Data Analytics - Actuate
BigDatasolutions – HADOOP, R
Workflow Management Tool - CANEA Improof
IT Security Software - Two Factor Authentication Software , Cloud Id Broker
ERP Solutions – Odoo (OpenERP)
Cloud Solutions – Secure DropBox
CRM Solutions – Odoo (OpenERP) ,Skydesk
Website Development and CMS– Joomla , Odoo(OpenERP)