Investment Incentives Singapore


The PIC is a government initiative to encourage the private sector to fund investments that will hopefully improve the competitiveness of Singapore. It provides companies with cash grants and allows them to pay significantly less tax than they otherwise would have to. Companies can get up to $75,000 as a cash payout, or they can get 51% of their expenditure back as a reduction in their tax bill.


The PIC is one of the government’s mechanisms to support companies to achieve greater competitiveness, drive innovation and enhance Singaporean capabilities. It was introduced in the 2010 Singapore budget to encourage companies from all industries to fund investments that will hopefully improve the competitiveness of Singapore. To qualify for the PIC, a company must have invested in at least one of the following 6 categories, as follows:

  • Acquisition or leasing of IT and/or automation equipment
  • Staff training
  • Research and development (R&D)
  • Registration of intellectual property
  • Acquisition of intellectual property
  • Design projects approved by the Design Singapore Council.

There are many companies that are unaware that the work that they are already doing would actually qualify for this funding, and are therefore missing out on money that they are legitimately entitled to.
The PIC is administered by the IRAS. Companies need to understand the PIC’s requirements, processes, deadlines and paperwork.


Catalyst Solutions is a boutique consultancy that offers a focused, efficient and value adding service offering. Our team has qualifications in science, IT, engineering, accounting and law, as well as experience in assisting companies across all industries to access the Incentive. We leverage off our multidisciplinary skillset to ensure that our clients maximize their legitimate entitlement to the government funding, whilst ensuring that the claim process minimizes disruption to their business. Our process is as follows:

  • Educate companies about how to access their full entitlement from the PIC
  • Identify both the ‘obvious’ and the ‘non-obvious’ activities that qualify
    Prepare all necessary documentation to maximize the chances of success
  • Analyse expenditure that qualifies for the PIC to ensure approval by the IRAS
  • Navigating any interactions with the IRAS.

If you have already invested, or are considering investing, in any of the above 6 categories, the Catalyst Solutions offering helps to claim your full entitlement from the PIC.


Dave Corbin is the Managing Director of Catalyst Solutions Asia Pacific. He is a Chartered Accountant and has a Bachelor of Science. Dave was previously a Senior Manager in the R&D Incentives team of one of the Big 4 accounting firms. He has assisted companies from all industries to access government funding for their R&D for over 8 years and across 3 continents.

Dave is always keen to discuss whether your company may be eligible for the Incentive and, if so, how the Catalyst Solutions team can work with you. Please contact him on +65 6323 5426 or at