The PIC scheme encourages design innovation and is tailored for companies with eligible in-house designers and/or who engage eligible design service providers.
The PIC scheme encourages design innovation in companies in Singapore and is tailored for companies with eligible in-house designers and/or who engage eligible design service providers. Businesses who wish to enjoy the enhanced deduction on qualifying design expenditure incurred to conduct design projects under the scheme have to get their projects approved first by DesignSingapore Council.
Companies will now be able to claim specific IT equipment and software leading to an increase of productivity for the company. We have noticed that businesses are often confused about the eligibility of their automation equipment to the PIC. The situation is coming even more complex with the integration of selected IT and cloud computing equipment.
We are helping businesses to build eligible design projects and prepare their applications to get the mandatory approval from the DesignSingapore Council. This approval has to be obtained before the launch of the project. Our approach allows us to have a good understanding of your upcoming projects and launch the application processes at the right time.
We are helping companies to identify which IT and automation equipment are eligible to the PIC scheme too and to get their equipment approved by the administration to secure their claims. We are building the required argumentation on behalf of our clients in order to get this approval.
«From our experience, companies rarely provide an exhaustive claim of eligible equipment to the Administration, relying in most cases only to simple IT equipment.
Many companies discard valuable expensive equipment because they lack time to perform an exhaustive assessment, and because their equipment is not as listed by the administration. However, certain of this equipment actually carry features that could be considered as automation equipment.
This is why, we, consultants at GAC, provide our expertise to our clients to identify the potential equipment that could be registered as automation equipment, and to prepare all required file to submit the claims, leading to easily increase by multiple times their savings.»