Setting up of a business and running it is not an easy task to accomplish. We expect proper help and support in the initial stages of business set-up to be able to make it profitable. Singapore is a country which provides ample support and even gives almost 400% tax relaxation for any small businessman dealing in PIC. Singapore is a small country in the Southeast Asia, and is known for the ease of business that it offers to various businessmen, both in-house and foreign. The country is only 137 km from the equator and has a very uniform climate all over the year. The monsoon is good and the relative humidity is on the higher side. The climate is complimented with the friendly initiative by the Government and has created an admirable way of doing business. The PIC initiative has been a success as more people are trying to set up their own venture. Before dwelling any further on the improvement it has brought to the lives of these businessman, let us get a better understanding of the systems that have boosted the economy of Singapore to an advanced position. PIC Claim - Why it is success Any company or business initiatives can register for the PIC claims in Singapore which is trying to work on the development and progress of the six Government quality activities. The firms can claim tax deductions up to 400% of the profit and even can opt for 60% of it as cash payment. Naturally, any business trying to make its mark in this field can expect a good return and profitability when investing. Moreover the scheme helps a lot as the number of such businesses is on a rise. PIC Claim - How does it works? PIC or Productivity and Innovation Credit Scheme is a step taken by the Government of Singapore in 2010 and the regulations and grants are modified in subsequent years. The scheme caters specifically to the small and medium scale enterprise and businessmen by providing lot of tax reliefs and other financial help. The tax deductions are 400% which are also applicable to allowance and it can be opted in cash to almost 60% which have been reviewed to 40% recently.