The new PIC Bonus from IRAS – Budget 2013

The Singapore Government is offering more incentives to SMEs  to improve productivity by enhancing on the existing Productivity and Innovation Credit (PIC) scheme by introducing a new PIC Cash Bonus for participating firms.

 

Companies that spend a minimum of $5,000 in PIC activities in a year will receive a dollar-for-dollar cash bonus. The bonus will be capped at $15,000 per year over 3 years of assessment – YA2013 to YA2015. This PIC bonus will be paid on top of the existing PIC benefits.

 

PIC Bonus example

 

Tap on this bonus now for IT implementation to assist in your business now.

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