A step by step guide to apply PSG
One of the perks for being Singapore Small and Medium Enterprise (SME) is that Singapore is one of the most pro-business countries in the world. Singapore government has always supported and nurture a business-friendly environment. Besides the low tax and high skill workers' environment, the Singapore government has introduced a highly practical scheme to boost the economy by helping local SME and one of them is the introduction of various grants.
About Productivity Solution Grant (PSG)
The PIC Bonus was introduced to encourage businesses to take advantage of the main PIC scheme, launched in 2010, which offers substantially enhanced tax deductions or cash payouts on qualifying activities. The PIC Bonus scheme gave businesses a dollar-for-dollar matching cash bonus for the year of assessment 2013 to 2015, subject to an overall cap of $15,000 for all 3 YAs combined.