What is Productivity and Innovation Credit Scheme in Singapore?

 It is a program that SMEs to encourage business to invest in productivity and innovation may receive the following benefits:

• 60 percent cash payout of up to SGD$ 100,000; or
• 400 percent tax deduction/ allowances of up to SGD$ 400,000,

which will have to be expended on:

• Purchase/ lease of prescribed automation equipment
• Training expenditure
• Acquisition and registration of intellectual property
• R&D
• Design expenditure