Productivity and Innovation Credit(PIC) Scheme

I believed that most businesses in Singapore are familiar with Productivity and Innovation Credit (PIC) scheme. This scheme was launched in 2010 by IRAS and initially, this scheme is supposed to end in YA 2015 but was extended until YA 2018.

Most of the SME are familiar with this scheme because they might have tapped into PIC for their purchase of IT and automation software and hardware such as computers, printers, website and etc. They could benefit from a cash payout of 60% (up to S$100,000 per YA) or 400% deduction for up to $400,000 ($600,000 under PIC +)  per YA.

Just to add since 1st of August 2016, IRAS had lowered PIC cash payout coverage to 40%.

To recap on the full scheme, you could refer to the chart below.

PIC six qualifying activities
Description on PIC and six qualifying activities

Purpose of this article

A lot of business owners had mistaken YA 2018 to be the year 2018 but in fact, it’s referring to the date of occurrence for your company expenditure. You might want to refer to IRAS to understand if the date of your purchase for PIC had fallen within the qualifying period. If you are unsure and required more information, feel free to email me or contact me at 91110936

To some companies, this might be your last opportunity to file your application for PIC scheme. I must confess that it is a very useful to most of the SME in Singapore because it benefits the business by lowering cost on their investment for engaging into productivity activities.

Common FAQ

To end of the article, I would have to dispel certain myth shared to me by my clients.

  1. Most SME would use PIC for the purchase of IT, automation and training but you could also use them on Intellectual Property (IP), Research and Project Design.
  2. Besides Computer, Printer, Laptop, Website and Smart Phone, are the common equipment used on the purchase of PIC. However, if you feel that your purchase equipment is relevant to the productivity of the business, you could always write for approval on a case by case application.
  3. Training of foreign employees applicable does not mix up the qualifying condition with other schemes such as WSQ, ETS or Skill Future for example.
  4. No, PIC Bonus is over.
  5. Yes, this scheme is helpful for startup so long as you fulfilled the qualifying condition.
  6. Not only startup, foreign companies could also utilise this scheme if you qualify.
  7. For purchase of equipment back in 2016, it might be possible for you to still tap into the scheme for support.
  8. PIC schemes support leasing and hire purchase. Refer to this link.
  9. You might be interested in knowing the development of Post-PIC era. You might be interested to read this article from Straits Time as food for thoughts.

You could find a summary of the scheme from MOF website.

For enquiries on PIC scheme

Email me at
Contact me at 91110936


Fried Ice Cream rolls from Singapore

This is my first video. It featured how the fruity ice cream is made from milk. It originates from Thailand and is now in Singapore. Yum Yum! We called it Fried Ice Cream or Ice Cream Rolls. Just remember, it’s called cold fried ice cream and not the hot fried ice cream. It’s also surprising to find out from Wikipedia that this desert is a creation from South East Asia.


If you are interested to know, it’s just 4 simple steps into making this wonderful cold and yet sinfully sweet dessert.

Step 1. Pour the mixture into the cold fried pan

Spread the mixture
Spread the mixture

Step 2. Spread the mixture and allow it to freeze

Thin the mixture
Thin the mixture

Step 3. Scrap the semi-frozen ice cream from the pan

Scrap the from the pan
Scrap the from the pan

Step 4. Chop it into small bits and repeat step one until the mixture is full iced

Chop it into small bits
Chop it into small bits

Complete. All your hard work gets rewarded with creativity being unleashed.

Ice Cream Tub
Ice Cream Tub

SME Go Digital Basic

Go Digital scheme is announced by the Parliament by Finance Minister Heng Swee Keat in April and a budget of 80 million would be injected into the scheme for over 4 years to groom SME to develop their technology competencies. This scheme serves as a roadmap for the digital transformation of the country and it consists of several components which include, cyber security, data analytic, data protection and etc.

In this newsletter, I would be sharing about ‘Go Digital’ Solutions. Information released by the media states that the scheme would provide two forms for solutions. This includes Basic solutions provided by for off-the-shelf purchase. Solutions vendors are usually pre-approved by IMDA and they are the general business solutions.

SME Go Digital
SME Go Digital

Pre-approved Solutions

According to IMDA, 51 solutions are approved as of 29 of May 2017 and this includes industries of various sectors from business operation software and you could refer to the solutions from this link

To find out more about SME Go Digital

Email me at
Contact me at 91110936

Continue reading SME Go Digital Basic

A consultant for SME Centre@SCCCI under SPRING Singapore