UPDATES – Revenue threshold increased to S$5 million for ECI waiver and Form C-S ECI The revenue threshold for ECI waiver will be increased from S$1 million to S$5 million. This updated criteria for ECI waiver will apply to companies with financial year ending in or after July 2017. Company’s Financial Year ends Criteria…
Over 85,000 Employers to Receive $660 Million in Wage Credit Scheme Payouts Over 85,000 employers in Singapore will receive about $660 million in Wage Credit Scheme (WCS) payouts by 31 March 2017. SMEs will receive around 70% of the sum disbursed. Through the WCS payouts in March 2017, the Government co-funds 20% of the qualifying…
Best Place for Start-up Talents SINGAPORE: The Republic scored another feather in it’s cap when it recently surpassed the famed Sillicon Valley to become the best place in the world for start-ups to hire talent. Based on a global survey of 10,000 start-up founders spanning across more than a hundred cities, Singapore ranked number one…
SSD Changes With Effect From 11 March 2017 Singapore Government has reduced the stamp duties that sellers have to pay on residential properties and slightly relaxed rules on loan thresholds, more than 3 years after the last round of property cooling measures and borrowing curbs that helped send private housing prices falling for 13 straight…
More Help For Singaporean Workers Workforce Singapore (WSG) is a statutory body set up under the Ministry of Manpower (MOM) to oversee the transformation of the local workforce and industry to meet ongoing economic challenges. Its aim is to help promote the development, competitiveness, inclusiveness and employability of all levels of the workforce to ensure…
Job Vacancies 2016 – Research by Ministry of Manpower Singapore 5 in 10 job vacancies are PMET jobs; mainly education, healthcare, infocomm and service-related occupations Nearly half of all vacancies as at 30 September 2016 were for professionals, managers, executives and technicians (PMETs). The job openings were mainly education, healthcare, infocomm and service-related occupations. These…
All COR Applications Have to Be e-Filed via Mytax Portal In line with Government’s direction to harness technology for enhanced productivity, all COR applications have to be e-Filed via myTax Portal from 1 Jun 2017. Paper applications will no longer be accepted from this date onwards. Online via myTax Portal Log in to mytax.iras.gov.sg to…
Committee on Future Economy SINGAPORE: This country has over the years enjoyed sustained economic growth and successfully weathered many economic crises. Singapore’s economy has become more diversified and people in the country today enjoy a very good quality of life. The approach taken by the Singapore government to ensure its economy remains vibrant is through…
Singapore Set To Become Top Choice For Arbitration SINGAPORE: On January 10, this year, Parliament passed amendments to the Civil Law Act which paves the way for businesses involved in international commercial arbitration cases here to get third party funding (TPF). TPF basically refers to proceedings funded by an entity unconnected to a dispute. This…
Improving Re-Employment Opportunities for Older Workers in Singapore Retirement and Re-employment (Amendment) Bill 2016 and Revised Tripartite Guidelines on the Re-employment of Older Employees The Retirement and Re-employment (Amendment) Bill 2016 was passed by Parliament on 9 January 2017. In April 2016, MOM announced that following extensive tripartite consultations, the tripartite partners had agreed for…