Pay only 60% of website development cost, and last boat is moving off soon!
Yes most Singapore companies know about PIC grant. But not all have utilised it or utilised it for website related cost. Yes, you may have a website already, but you may want to add an eCommerce or other functionality to improve productivity on your sales and marketing process on your website. Like have a training booking system, room reservation system, directory, portfolio, memberships and subscriptions, payment integrations, CRM, adding multi language functionality, events and calendars, etc. When in doubt, sms us at 81270650 and we will get your question answered. And bear in mind, this opportunity is only until end of this year only. If you do not know much about this PIC grant, read on ;)
Quick introduction on PIC
If you do not already know what PIC is, PIC is Productivity and Innovation Credit (dispensed under IRAS). As the name states, It is a grant set up to encourage companies to invest in productivity and innovation projects. This grant has been ongoing for years. However, according to Singapore Budget, it will be available till YA2018 (that is, till this year end, 2017). A business may claim expenditure of:
- 400% tax deductions
- 40% cash rebate on allowable expenditure
Is website cost PIC claimable?
Many Singapore SMEs have asked if web design costs can be PIC claimable, so here is the answer, it depends if you have an existing website or not and nature of the costs.
Do not have existing website?
Yes, PIC may be claimed on:
- capital expenditure incurred on developing a website (including software development, CMS, etc)
- one-time registration of a domain name for the website
- hardwares and servers
Have existing website?
No, The revamp or redo of website does NOT qualify for PIC
Yes, PIC may be claimed on:
- addition of e-commerce functionality to website
- addition of backend software development to support functions (eg. addition of booking system, event management, etc)
- enhancing website to become mobile responsive
What other website-related costs are NOT PIC claimable?
- updating of website content, etc,
- support and website maintenance services
6 Categories of activities allowable under PIC:
- Acquisition and Leasing of PIC IT and Automation Equipment
- Training of Employees
- Acquisition and licensing of Intellectual Property Rights
- Registration of Patents, Trademarks, Designs and Plant Varieties
- Research & Development
- Investment in Design Projects
So, website-related costs is categorised under Acquisition and Leasing of PIC IT and Automation Equipment.
Qualification for Cash Payout
- at least 3 CPF paying employees (for the relevant months)
(Note: EXCLUDING sole-proprietors, partners, shareholders and directors of the company)
- carry on business operation in Singapore.
Still have questions on the PIC grant? Visit PIC Singapore page at IRAS or call IRAS.
Last chance – Don’t miss the boat
Have question on web design and development? We are happy to talk to you. Oroshin Pte Ltd has been incorporated since 2005 and specializes in CMS website development & design, eCommerce websites and online marketing including SEO. If you do not already have a website for your business, DO NOT MISS OUT your last chance to claim at least 40% off the website cost. Invest, say, a $2,000 website and only pay only $1,200 (after PIC claim).
Your website, your online real estate, could be your best ROI
A website is your online real estate. So many companies are reaping the benefits of their 24 hour sales lead generation real estate and you are a step away towards that. Yes, your website could be your best investment reaping your company the best return on investment! And yes, you need an SEO friendly website that is mobile responsive. We can help you, talk to us! Drop us message at Oroshin and we will call you back in 24 hours!