Friday, 27 May 2016

8 Frequently Asked Questions on Productivity and Innovation Credit (PIC)

PIC or Productivity and Innovation Credit is allowed by the Government of Singapore to small and medium enterprises to allow them carry out innovation activities for furthering their businesses.

Here are 8 Frequently Asked Questions on Productivity and Innovation Credit:

1. Are certain bodies of people such as a trade associations, town councils or corporations eligible for PIC?
Such bodies are often not considered to be carrying out business to make profits. In such cases if 50% of the revenue is generated from its members, then the club or the corporation is considered not to be in a profit making business. Hence they will be ineligible for claiming 100% allowance or deduction for PIC activities. They will also not qualify to receive extra tax deductions under PIC.

In cases where more than 50% revenue is received from taxpaying citizens of Singapore, the association is said to be running a business and they become eligible to claim enhanced tax deduction under PIC. Town councils are deemed not to be in business and hence can never qualify for tax deductions under PIC.

PIC bonus as well as cash payout is not given to bodies of people. Only partnerships, companies and sole proprietorships who have at least 3 local employees are eligible for it. This is because PIC aims at providing finances to SMEs in carrying out innovation and productivity initiatives.

2. Are companies taxed at concessionary rate eligible for PIC?
As long as the company incurs qualifying expenditure for the period YA 2011 to YA 2018, PIC will remain applicable irrespective of whether the income is taxed at concessionary rates or not.

3. Is a company eligible for PIC bonus if it has both full-time and part-time employees?
All employees, whether part time or full time, who are residents of Singapore will be taken into consideration while determining the number of qualifying employees.

Following group of people are considered business partners while determining the number of qualifying employees and are therefore excluded from the count:

· Self Employed persons’ which includes partners under contract and sole proprietor.

· Shareholder who also happens to be the director of the firm.

4. Does the equipment that the company or associated persons such as a subcontractor purchases overseas qualify for PIC?
If the equipment purchased is used by the company for its own business, it qualifies for PIC. In cases where equipment is placed at the disposal of a contractor to provide manufacturing services to the company, then the cost of equipment becomes eligible only if the equipment has been solely used to manufacture products of the company or if the company controls the equipment being used by the sub contractor.

5. Is it necessary to claim enhanced allowance on the cost of IT and automation equipment on a “per equipment basis”?
Enhanced capital allowances are usually granted on the total cost of the equipment, however, in case the total expenditure incurred exceeds the cap on expenditure, you can claim enhanced capital allowance on partial costs of individual pieces of equipment. If you opt for cash payout, then the conversion is to be done on per equipment basis and partial conversion is disallowed. When the qualifying expenditure exceeds the amount that qualifies for cash payout conversion, the excess expenditure is forfeited and will not be paid as capital allowance.

6. Are there any PIC scheme consultants endorsed by IRAS?
IRAS has neither endorsed nor appointed any private consultant to provide advice on PIC or promote it. Businesses that are interested in PIC scheme can find out more about it by contacting SME centers or IRAS. SME centers can be contacted through their website or on phone at 6898 1800.

7. Can the enhanced allowance claim be deferred but claim on base allowance continue for purchase of automation and IT equipment?
This cannot be done. Enhanced and base allowances are allowed together and hence have to be claimed together.

8. What can I do if I have overlooked the PIC enhanced tax deduction/allowance in my tax return?
You must write to IRAS within 30 days with your full name, details of amendment and tax reference number. 30 days shall be counted from the date of your Notice of Assessment or allocation of Profit/Loss to Partners.

If you are a sole proprietor, send them a 4 line statement which mentions the amount of qualifying deduction/allowance. Also complete and deposit the form of Enhanced Deductions/Allowances Declaration for sole proprietors and partnerships.

Companies can fill the Form For Filling Revised Income Tax Computations and submit a revision of PIC claims through it.

Friday, 18 December 2015

Six Ways In Which PIC Can Help Your Fashion Industry

The world of business continues to grow day by day, with the competition becoming stiffer and this has forced governments to formulate policies and come up with measures that can attract investors into their countries. On the other side businesses are trying as much as they can to outsmart each other and get hold of the biggest market share. In Singapore, the productivity and innovation credit was created and tasked with the responsibility of helping small and medium businesses realize their targets.PIC was created by IRAS in order to encourage businesses to invest in productivity and innovation with the promise of huge cash payouts and tax deductions. An industry like fashion industry stands to benefit a lot from PIC activities and services in the following ways;

• Access to Automation Equipment

As a member of the PIC scheme your fashion industry will be able to hire any kind of automation equipment from PIC. This is beneficial, especially if the industry does not have the automation equipment of its own. This reduces the cost of hiring such equipment because you will get them at reduced hiring costs if you are a member of the scheme.

• Acquisition Of Intellectual Property

By simply being part of the scheme your industry will have the opportunity to easily acquire intellectual property in Singapore. Acquiring intellectual property is an extremely hard and expensive affair, but with the help of this scheme the process becomes much simpler.

• Research And Development

For any business to grow and expand it must heavily invest in research and business development, this kind of research might require a lot of manpower and resources, but once you are part of the system your industry will get all the help it might require during any kind of research and business development plans. Because you need to carry out research on new fashion trends and designs, this service will definitely be of great help to your industry.

• Training Of Employees

When new employees are coming into your business, it is always advisable to train them before they can be absorbed into the system, this service is also offered by PIC to its members. It also carries out refresher courses for existing employees. This service will enable you will have to train your employees on how to come up with new fashion styles, how to market them among many other things.

• Property Registration

After acquiring any intellectual property, it is mandatory for you to register it, this process might be hectic, but with the help of this plan you will easily register your property after its acquisition

• Tax Deductions
All businesses that are part of this system can get up to 400% tax deduction on its expenditure. This tax deduction is effected by IRAS and helps business in channeling more funds into business activities and this helps in increasing the profits.

• Cash Payouts

Apart from benefiting from the tax deductions All fashion industries also stand to enjoy huge cash payouts every year from IRAS.

• Web Design Development

When it comes to online marketing the most crucial factor is web design, PIC help industries to design and develop their web pages. With the help of their professional experts they will customize your website to meet your business needs. For your business to attract many online clients the business website must be attractive and high tech, and this is one service you will get to enjoy.

• E-Commerce

Online business is rocking the world and most companies do not want to be left out in fighting for the online market. This service will give you the best ecommerce designs and strategies to help your business grow beyond your own imagination.

• Mobile Applications Development

They also help businesses in designing and coming up with different mobile applications that can be used in promoting your fashion business.

• Customer Relation Management

The customer is considered as the boss in the business and with this notion in mind yon will get the best customer relation management systems and advice from PIC.

• Content Management System

Managing content is also crucial to the success of any business. This scheme helps fashion industries in managing and organizing their content all the time.

• PIC grants

IRAS offers grants to business in Singapore to expand and invest in new business lines. The grants can be used in research and other business development activities.

Tuesday, 29 September 2015

7 Tips on Installing Server in Your Office

7 Tips on Installing Server in Your Office

When an office has more than one employee, it is necessary to install a server to make it easy to share resources and important business information. Servers are design to offer resource sharing and file storage and sharing. They can also help an office to:

· Identify and manage information
· Store large amounts of data
· Offer easy access to customer information
· Protect information
· Offer secure email access
· Manage security components and monitor risks

Once you decide to install a serve in your office, there are various essential factors to keep in mind. Here are 7 tips to help you install a server in your office.

1. Find Adequate Space
Before you install a server in your office, it is important to determine the exact amount of space that is available. You can set aside an entire room for the server or take advantage of available storage space. However, if you are planning to expand your operations, it is advisable to have a dedicated room to install your server. This will allow you to increase the servers you run as you expand. It will also be easier to handle the network and cable links if there is adequate space in the room.

2. Get Hot-Swappable Features
You should only install a server that comes with hot-swappable features. The server you get should allow you to use substitute components. This makes the maintenance process convenient. All the features may not be hot-swappable but make sure you install a server that can use various power supplies, hard drives, and expansion modules. These are elements that you can substitute without disrupting your server when you need to carry out maintenance.

3. Use Rack-Mount Equipment
Installing a server involves various network appliances and hardware. Rack-mount equipment will ensure you house each component appropriately. Buy rack-mount equipment to help you manage all the equipment in your server room. It will also protect the equipment from exposure and prevent physical tampering. The rack-mount equipment will keep the wires out of the way and prevent accidents.

4. Set up Environmental Monitoring Systems
Before you install your server, you have to make sure it is not exposed to over heating, static build up, and humidity. You have to install environmental monitoring systems to ensure the server is working in the right conditions. The systems are designed to monitor power surges and temperature levels. You also need to include air conditioners and elevated floor panels to protect the server.

5. Manage your Cables and Networks
One of the most important things to do during server installation is to determine how you will manage your cables and networks. You have to control the cables and connections to your server. Take advantage of patch panels to run wires and cables securely into the main network. You can label the panels or use different colors to make it easy to identify specific ports. This will make it simple for you to connect and disconnect your cables. Running network links directly to the server can create a lot of confusion and make it difficult to manage them.

6. Select the Right Hubs, Routers, and Switches
When you are installing a server, you have to find appropriate hubs, routers, and switches. It is advisable to use a single brand. This makes it easy for you to identify and troubleshoot problems. Compatibility is also important for a network. You will find it effortless to control the server if you are using equipment from a single brand.

7. Set Up an AC Unit
High temperatures can reduce the life of your equipment and this can lead to outages and crashes. To avoid this, you need to set up an AC unit when you are installing a server in your office. This will cool the server and ensure it is working efficiently. Most people overlook the fact that servers continue to run even after the office is closed. This means that you need an additional air conditioning unit that is not connected to your office’s main unit. The main unit may be switched off when there is nobody in the office. You should have at least two air conditioning units to serve your server. These units should be on individual circuit breakers. This comes in handy when you need to carry out maintenance on one of them.

Thursday, 25 June 2015

Is It Easy To Get Approval For R&D PIC Grant?

 In Singapore, the R&D(Research and Development) activities are the costs that have been incurred on the consumables and staff costs for qualifying R&D activities that are carried out in the country or abroad. You will not be required to have an IRAS approval for expenses that have been incurred in the activities of R&D in order to qualify for the PIC grant. So, is it easy to get approval for the R&D PIC grant? The direct answer to this question is no, since it involves some processes and requirements and if you successfully meet these requirements, you will receive your approval. Here is a look at the entire process and requirements of an R&D PIC grant approval.

Who can claim for the R&D PIC grant?
Before anyone seeks to be approved for the grant, they must first off check if they are eligible for the R&D tax measures benefits. Technically, only the taxpayers that are the R&D activities, beneficiaries can claim the PIC grants on the R&D. In general, the R&D beneficiary will be financially responsible for executing the R&D activities. The beneficiary will also own and is eligible to exploit the knowledge or the intellectual property of the Research and Development activities.

Qualifications of a project for the R&D grants
Basically, your project will qualify for the Research and Development PIC grants if it meets the 3 main prerequisites and also, the project should not fall within the specified excluded activities. Here is a look at the three main prerequisites that a project must have to qualify:

• The Objective. This is the main purpose of the project, which defines why the project was initiated in the first place. The objective must be clearly defined, prior to the initiation of the project. Any objective of a R&D project must indicate the plan to counter an existing technological or scientific challenge in order to achieve specific results. The main results that must be achieved include the acquirement of new knowledge.
• Novelty. This will refers to the existence of a new product or service in the Singaporean market. The new product or service must be related to the improvement and creation of knowledge, process and products.
• Technical risk. The project is considered to have a technical risk, if there is a technological or scientific uncertainty that may not be solved by a specialist in that field when the R&D project is being initiated. The project should specify a person that is competent enough to take part in the related field of technology or science and should not be an employee of that project or organization.
• The Systematic, Investigative and Experimental, SIE, study. These are specific planned activities that are set to test or discover something that is unknown or not easily solved in the technological or scientific field. This should be in relation to what was specified in the objective section.
In order to be approved for the R&D PIC grant, a project must qualify in all the specified categories and prerequisites.

What R&D Activities do not qualify for the grant?
There are specific conditions that will determine if a project will be approved for the R&D PIC grant or not. Here is a look at some of the common features of a project, which will not qualify for the R&D activities:
• Activities that deal with the routine testing and quality control of devices, products and materials.
• The routine data collection projects.
• The research in humanities and the social sciences.
• The management studies or the surveys for efficiency.
• The stylish changes or cosmetic alterations to devices, materials, products, production methods or processes.
• Sales promotions or the basic market research.
• The establishment of a computer program that is not meant to be leased, sold, hired or licensed for two or more people that are not related in any way. Generally, the project should only be developed to serve the citizens and be of a benefit to the nation.
All the activities that are not related to the development of the scientific or technological market will not qualify for the PIC grant. For that, it is required that the project that intends to enjoy the PIC grant on the R&D must ensure that it is of help to the technological field in Singapore.

How does the approval process work?
To begin with, the company or organization will present their claims on the R&D tax benefits, which should be done in the Form C-S or the Form C. When that is done, the IRAS will review the claim, whereby, it will review the content that has been included in the R&D claim. It will also review any other information that is from the taxpayer, if it has been requested by the IRAS. After that, IRAS will determine if the information is satisfying, if yes, it will evaluate the R&D claim. IRAS will also seek the advice of the Panel, if needed, then it will alert the Taxpayer of the verdict made. If the information is insufficient, then IRAS will ask for more information to be added. The taxpayer or the applicant will provide more information and the process will go back to the IRAS to be approved. This will continue, until the IRAS approves the project. In case the approval has been denied and the IRAS sends the application back to the taxpayer for more information to be added, but it still doesn’t meet the requirements, it will be sent back again. No application will be approved, until it meets the IRAS requirements and for the complicated applications, the IRAS Panel will take part in the decision making.

So in general, the approval for the R&D PIC grant is not an easy process. It will require the relevant organization or taxpayer to ensure that it develops a project that will amuse the IRAS. The main aim is to regulate the number of projects being established and ensure that only the relevant projects are developed. In case you are certain that your projects meet all the requirements, but you are still denied approval, you might want to contact a professional lawyer to help you with the claim. However, you will want to ensure that you have all the supportive evidences.

Thursday, 4 June 2015

7 Reasons Why Mobile App Development Is Gaining Popularity

The word "app" has not been awarded as the "Word of the year" by the Dialect Society just like that. Its increasing popularity, since the year 2008, has revolutionized the way people use internet-based services. Urbanized countries like Singapore, have witnessed a growth in the usage of mobile application software at drastic levels. And, why not? - After all, these apps are capable of providing a lot of benefits to the users. People around Singapore use mobile apps for a variety of reasons. Let's look at 7 significant ones which will help you understand why these mobile applications have popularized to such an extent.


1. Versatility:
The best thing about apps is that they are really flexible to use, unbiased by your location. Unlike your home computers and laptops, your smartphone is capable of running these apps conveniently. A lot of people prefer not to carry their bulky laptops around to access a software which is why these portable applications are preferable options to be viewed through phones easily.
When you are able to get the best out of a service on the go, then it surely is fruitful to use it - that is why, these have turned out to be so popular over the past decade.

2. Easy Installations:
Another awesome feature that acts as a commendable reason for the prominence of such digital utilities is - their quick installation aspects. Albeit, these tools might provide limited access to the features as compared to the ones installed on your laptops and desktops, but developers add the most widely used features in these software so that they can be installed quickly and used as per your needs. Furthermore, Singapore has a commendable ISP service which can provide speeds up to 1 Gigabit/sec. This greatly saves a lot of time making it another inevitable reason for its wide usage by the Singaporeans.

3. Abrupt Accessibility:
People usually get irritated when they use digital facilities that are too much time-consuming. It usually happens when websites are opened on phones or laptops - where a lagging connection creates too much frustration in their minds. However, with mobile apps, the time consumption for the loading is greatly reduced. This is because, every page accessible on the app is predefined. For many apps, you might not even need an internet connection to access them. It greatly enhances its efficiency.

4. Endearing looks:
Popularity of such flexible tools is not limited just to their abrupt utilization. People love them because of their intriguing looks as well. Modern mobile app development teams have designed these utilities in such a way that they can be customized as per the likings of the customers. These look alterations aspects could let one change the colors of the app or even change the complete layout as well. Moreover, many would provide with downloadable widgets, contents, themes etc. which can be changed whenever you want. Due to dynamic looks, these are increasingly popular among the young generation who love these vibrant looks in their installed apps.

5. Unique features:
When it comes to features, mobile applications are definitely a preferable choice in comparison to laptop applications. People use tools for their features mostly so that they can finish up their task at a much faster rate. Thus, developers create features that can be used conveniently. A lot of such feature depend upon the gadget you are using it with. For instance, a barcode scanner might not be that efficient with your laptop but it can be easily used with a smartphone having a camera. There are many other such features which are specifically designed for mobile apps rather than your desktops/laptops.

6. Frequent Updates:
This is one of the primary reasons why mobile application development has gained so much popularity. When you are able to update these tools with high flexibility, you would definitely prefer them over your computers. While computer applications also receive updates but you will have to be present there to get it updated which is not that reasonable. Your phone app is able to update it all, whether automatically or manually, hassle-free.

7. Sharing and connectivity:
Whether for games or for your office work, you can easily share your data with other mobile app users without any troubles. So, most users choose downloading apps where they are able to synchronize or share data with others. Unlike computer software, the speeds for sharing data is also enhanced when these portable apps are used by people. Plus, the current trends are linked to social networking sites and users love to share their content with friends and family on such sites. Using the sharing features provided in these utilities makes it quite popular among people.

You can also find other reasons for their growth such as - most of them are free of cost, etc. But, it is not considered a vital reason for their increasing usage. This is because apps can have in-app purchases too, where a user might have to pay for an uninterrupted service. But, that is worth paying if the utility offers usability. While there have been many advancements in the technological world, the ones which are more capable of revolutionizing the outlook become more famous than others. Their multiple features, consumer-friendliness, usability etc. are the factors which define their eminence among the generation.

It certainly has nothing to do with the age factor as there are many senior citizens who love using such digital conveniences for their daily chores or leisure. It is more about how these are able to help users around the region attain maximum benefits. Even for developers, these programs have greatly reduced the applied effort for their development. These do not require much coding as compared to full version programs for computers. So, it saves a lot of precious time for them.

Developed countries, such as Singapore, have a greater impact on the usage of such digital facilities as the population prefer convenience when performing daily tasks. Even when it comes to entertainment, these mobile tools are able to deliver a higher usage percentage as compared to other gadgets. People prefer technologies that do not require them to exert extra efforts. Therefore, these mobile app development has increased in popularity in Singapore.

Sunday, 24 May 2015

Where Can I Find Reliable Mobile App Developer in Singapore?

There are some useful tips that you can follow, so you are able to improve your business performance significantly. When you want to attract many customers to your company, you can create the best mobile application for your business. Good mobile app can help you provide the best service quality for your own customers. It is important for you to select the best mobile app developer that is available in Singapore these days. Mooob and Mobile Application Singapore are two popular mobile app development companies that you can choose today. Those two companies can provide the best service for all customers.


1. Mooob

When you plan to select the best mobile app development company, you can choose Mooob company today. You can learn about this company from its official website at There are some great services that are offered by this company. Mooob is ready to help you create the best mobile application for supporting your own business. This company is well-known for its high quality services for all customers. There are many good testimonials and reviews that come from other customers in Singapore these days. Here are some reasons why you have to select Mooob company as your favorite mobile application developer today.

This company has some professional mobile app developers in this company. They know how to develop any types of apps that are suitable for all customers. Most of these developers have good knowledge and skills, so they are able to create any apps that come with a lot of useful features for all clients. Because of this reason, this company can help you create the best app very quickly. You don't need to spend a lot of your valuable time for creating the best app for your company. Mooob company is ready to provide instant result for all customers.

When you contact this company, you are able to see some great services from this reliable company. This company offers several types of services, including website design, app development, SEO service, e-commerce site, social media advertisement, and many other services. Therefore, you are able to create your favorite app and promote this app to your customers easily. You don't need to spend a lot of time for improving the popularity of your application. You can select the best service and package by contacting the customer service from this company today. These flexible options can help you choose your favorite service easily.

This company can provide high quality mobile app development service at very affordable price. If you only have small budget for creating the best app for your company, you can contact Mooob company today. It is recommended for you to contact this company immediately for booking a schedule with this company. It can be a perfect choice for you who want to make the best application for supporting your own business. When you contact this company, you can also get free quotation that may include all costs in your app development process.


2. Mobile Application Singapore

There are many people who want to use this company, especially when they want to create the best mobile application for their needs. You can get access to this company via its website at It can be a perfect option for you who want to make any types of mobile apps easily. This company can be a one stop solution for any types of mobile application development process. When you contact this company, you can get access to some high quality services from this company. Mobile Application Singapore also receives many good reviews and also testimonials from other customers.

This company is ready to help you create any types of apps for different mobile devices. Mobile Application Singapore is specialist in Android apps, iPad apps, and also iPhone apps. You can select the best application that is good for your customers. It is a great idea for you to make the best application that can be accessed from several mobile devices. By doing so, you are able to reach all customers that are using any types of devices. You can contact this company when you want to make the right selection today. Creating universal apps for your business can help you grow your own business quickly.

When you contact this company, you are able to learn about its guaranteed service. You will be able to enjoy your experience with this mobile app development service company today. This warranty allows you to enjoy high quality service from this company. When you are unhappy with your current application, you can simply contact the customer service from this company immediately. This customer service team is ready to help you find the right solution for solving your problem. This guaranteed service can provide the best application for supporting your own business needs.

All apps from this company are specially made to meet all customers' needs. You will be able to enjoy high quality app when you hire this company today. When you hire this company, you will be able to enjoy user friendly apps that are provided by this company. Your customers will be able to get access and operate your apps easily. Because of this reason, you will never have to regret on your choice for selecting this mobile app development service company today. Contact Mobile Application Singapore today when you want to make stable and high performance mobile app for your business easily.

Those are two main mobile app developers that are available in Singapore. You can contact those companies before you select the best package and service for yourself. It is important for you to compare both companies, so you can check their features and benefits for all clients. Comparing both companies can help you select the best mobile app development service company easily. Don't forget to contact their own customer service representatives, in order to ask about all available services, packages, or options. You can choose the best company that is ready to help you create high quality apps for growing your business quickly.