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Productivity and Innovation Credit (PIC)

Subsidising Training Costs with PIC

PIC, Productivity and Innovation Credit | Team Building WorkshopsAs a result of the long-term positive effect of corporate team building and development programs for both the company and the employees, the Singapore government has launched the Productivity and Innovation Credit Scheme (PIC).

PIC encourages multinational corporation (MNC) and local small and medium enterprises (SMEs) to undertake these team bonding workshops for their employees. 

PIC is a grant introduced during the 2010 Singaporean budget that aims to support companies to train their employees by subsidizing part of the cost.

For YA2013 – YA2015, your business can enjoy PIC Bonus (with a dollar to a dollar matching) on top of the existing 400% tax deduction / allowances and/or 60% cash payout.

In Singapore, corporate team building consultancy companies are consistently growing and have many innovative team building activities. Our company, a people development training, and consultancy company aim to ensure that both MNC and locally grown corporations undergo team enhancement seminars, and interactive events reap the maximum benefit of these sessions.

Teams, though may have similar functions in nature, may need entirely different programs depending on the team member’s strengths and weaknesses, organisation mission and goals, and also the core group dynamics that needs to be improved.

Training of employees to improve efficiency at work

You can claim PIC Benefits on training of your employees for the purposes of the trade and business

External Training – Training of your employees by external service providers. Qualifying Training costs: Course Fees.

PIC, Productivity and Innovation Credit | Team Building WorkshopsIn-house Training* – Training of your employees by your in-house trainers. Qualifying Training costs: Salary and other remuneration paid to in-house trainers for conducting the training.

Other Qualifying Training costs include rental of training facilities for the training, training materials, stationery, meals and refreshments provided during the training.

Subject to certain terms and conditions.

Our consultants and advisors will help identify these points and help develop the appropriate training program for optimal gain.

Our professional trainers will assist teams to bring the best of these programs by offering advice from their vast experiences for a more fun, interactive and lively development session.

Team building programs and team learning workshops, which local government is providing financial subsidies, have indeed provided employees with life-long developments and this is a worthwhile investment for the enterprises in Singapore.

For more details on our corporate training and development packages, please complete the quotation form and our trainer will contact you for a discussion