Singapore customers are encouraged to make use of the PIC scheme when adopting CACHATTO and NinjaConnect.
What is PIC scheme?
Productivity and Innovation Credit (PIC) is a grant from the Singapore government (IRAS) given to eligible businesses to promote productivity and innovation.
Two styles of grants are available, 400% Tax Deductions, or a 60% Cash Payout, for qualifying expenditure incurred in any of the six PIC qualifying activities. All businesses, including subsidiaries of a foreign parent or holding company, are eligible for PIC.
There are six activities that qualify for PIC, including the “Acquisition and Leasing of PIC IT and Automation Equipment”. Other eligibility details can be found here.
CACHATTO and NinjaConnect, which improves work mobility and efficiency, can form as a basis for IT implementation in the PIC scheme.
*Source: IRAS PIC Scheme Official Website