Infocomm@SME - Accounting Software Assistance Scheme

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Accounting Software Assistance Scheme


Accounting software is a tool to assist businesses to improve their financial and book-keeping practices. From 1 July 2009 till 31 March 2012, you can apply for a grant to defray the costs of using accounting software that complies with the Inland Revenue Authority of Singapore's (IRAS) e-Tax Guide. IDA partners IRAS in this scheme to assist SMEs that are registered for Goods-and-Services Tax (GST), to purchase and put into use the accounting software listed in the IRAS Accounting Software Register.


Scope of scheme

The assistance scheme defrays up to 50% of the qualifying costs of the following items, capped at S$1,500 per SME:

*       Accounting software listed in IRAS Accounting Software Register

*       Installation/deployment of the accounting software, and

*       Training on the use of the accounting software.

The grant is on a reimbursement basis in which you will have to incur the costs and submit the necessary invoices and documents to IDA for the costs to be reimbursed.

How to qualify and apply?

1.     Your business must be registered or incorporated in Singapore with:

o    At least 30% local shareholding;

o    Group fixed assets worth less than S$15 million*; and

o    Group employment of less than 200 employees* (for companies in the services sector)

2.     Your business is GST-registered and will remain GST-registered for 12 months or more after your application for this assistance scheme.  For information on getting your business registered for GST, you can refer to the IRAS website to find out the pre-requisites and process for GST registration.

3.     Your business has not applied for or obtained or will be obtaining any other financial assistance (i.e. subsidy/ grant) for purchase or use of accounting software, including SPRING Singapore’s GST Assistance Scheme which ran from 1 March 2007 to 30 June 2009.

Businesses that are interested in the scheme need to submit an application form and wait for reply before proceeding to purchase the accounting software.  To apply for the subsidy, please contact us for more information.

* Computed on a group basis i.e. checking up to three levels for corporate shareholders holding 20% or more of the total shareholding in the company and one level down where the company holds more than 50% of the shareholding in a subsidiary company.


………… contact us for more information………… >>> phone:  6220 3306  >>>





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