ACP, the leading business provider of Learning Management System in the market today, is offering its products and services under Inland Revenue Authority of Singapore’s Productivity and Innovation Credit.
Productivity is prized by major corporations and even countries. Singapore is one of those countries trying to push and increase its productivity via the Productivity and Innovation Credit program. This scheme is tax based which enables business to enjoy 400% tax deductions/allowances and/or 60% cash payout. There are six productivity improvements that are included under PIC which are given below.
- Acquisition or leasing of PIC Information Technology (IT) and Automation Equipment;
- Training of employees;
- Acquisition and In-licensing of Intellectual Property Rights;
- Registration of patents, trademarks, designs and plant varieties;
- Research and development activities; and
- Design projects approved by DesignSingapore Council.
ACP, one of the leading IT and ICT provider in Singapore, can help with your PIC productivity via IT and Automation Equipment. Other equipment included, but not limited to, are boom lifts and carpet and shampoo machine for cleaning industry; demolition robots and floor grinding machine for construction industry; bar-coding system and brush chippers for retail industry. The full list can be seen at IRAS’ website.
Sample PIC Benefits
|
Item |
Amount |
| Usual Price |
$5,048.00 |
| Customer can claim: | |
| 60% Cash Back with PIC |
$3,028.80 |
| Dollar-for Dollar Cash Back with PIC Bonus |
$5,048.00 |
| Total Benefits with PIC + PIC Bonus |
$8,076.80 |
| Service/Product Net Cost |
$0 – FREE |
As a result of the many different types of activities in support of the productivity movement, we see more businesses acquiring a sense of urgency and building up the habit of productivity improvement thus improving Singapore’s economy. It will take sustained effort for our investments in productivity improvement to bear fruit. Working with a broad spectrum of partners, the government will continue to promote the PIC and other initiatives as means of sustaining the momentum.