1. What is the PIC grant?
The PIC Grant is provided by IRAS to help companies improve on productivity and innovation. It encourages businesses to make use of technology to improve business operations and hence cut down on manpower costs.
2. Who is eligible for PIC grant?
All local businesses with at least 3 CPF paying employees (who are not directors & shareholders of the company).
3. How long does it take to receive the grant?
About three months upon submission.
4. How much can I claim?
Up to $75,000 (first year) and subsequently $60,000 (per year till YA 2015).
5. How do I know if the equipment I purchase would qualify for PIC?
The list of pre-approved equipment can be found here.
Update: As the PIC scheme has expired after YA 2018, businesses will not be allowed to claim PIC benefits on expenditure incurred after the basis period of YA 2018.