Singapore

FEBRUARY 2025

• Budget Highlights 2025

DECEMBER 2024

• CPF Update on the Voluntary Contributions

• CPF Update on the Increase in Monthly Salary Ceiling & Contribution Rates

NOVEMBER 2024

• Shared Parental Leave up to 6 Weeks

• Government-Paid Paternity Leave Entitlement to be Mandatory to 4 Weeks

OCTOBER24

• PAT Announcement for YA2024 Submission

• Public Holidays for 2025

AUGUST 2024

• IRAS major System Upgrade (New!)

JULY 2024

• IRAS Submission Update – PAT

MARCH 2024

• Budget Highlights 2024

DECEMBER 2023

• PAT- IRAS Interface File Specification Release 15.0 for YA 2024 - CrimsonLogic

NOVEMBER 2023

• File format/ specifications for YA 2024 IRAS’ e-Submission of Employment Income

• Form IR8A for the year ended 31 Dec 2023 (Year of Assessment 2024)

OCTOBER 2023

• Government-paid paternity leave to double to 4 week

• Increase in Unpaid Infant Care Leave from Jan 2024

• Increase in CPF Contribution Rates from 1 January 2024

SEPTEMBER 2023

• No Statutory Updates

AUGUST 2023

• No Statutory Updates

JULY 2023

• No Statutory Updates

JUNE 2023

• No Statutory Updates

MAY 2023

• No Statutory Updates

APRIL 2023

• No Statutory Updates

MARCH 2023

• IRAS Interface File Specification Release 14.0 for YA 2023

FEBRUARY 2023

• Increase in the CPF Monthly Salary Ceiling

JANUARY 2023

• No Statutory Updates

DECEMBER 2022

• No Statutory Updates

NOVEMBER 2022

• No Statutory Updates

OCTOBER 2022

• No Statutory Updates

SEPTEMBER 2022

• No Statutory Updates

August 2022

• Improving NS Experience

• Auto Inclusion Scheme (AIS) for Employment Income

JULY 2022

• Increase in CPF Contribution Rates from 1 January 2023

JUNE 2022

• No Statutory Updates

MAY 2022

• No Statutory Updates

APRIL 2022

• No Statutory Updates

MARCH 2022

• No Statutory Updates

FEBRUARY 2022

• No Statutory Updates

JANUARY 2022

• No Statutory Updates

DECEMBER 2021

• No Statutory Updates

NOVEMBER 2021

• Retirement and Re-Employment (Amendment) Bill 2021

• CPF Interface File Specification
  

OCTOBER 2021

• No Statutory Updates

SEPTEMBER 2021

• Shift allowance part of Gross pay and included in computation of leave encashment

AUGUST 2021

• No Statutory Updates

JULY 2021

• CPF EZPay (FTP) – FTP FILE SPECIFICATIONS (effective 1 January 2022)

• Access to Network Billing System (NBS) will be 2FA enabled with effect from 19 July 2021.

•  Increase in CPF Contribution Rates from 1 January 2022

JUNE 2021

• $2.2 billion to be disbursed from 30 June under the Jobs Support Scheme

MAY 2021

• 15,000 firms in the Construction, Marine Shipyard and Process sectors to receive higher Foreign Worker Levy Rebate.

APRIL 2021

• S45 Offline Data-Entry (ODE) App with the latest version 3.15 is now available for download

• Waiver of foreign worker levies for Migrant Workers and Migrant Domestic Workers during their Stay-Home Notice from January till September 2021

MARCH 2021

• Tax Treatment On Donations With Benefit (Donations Made Before 19 March 2021)

• $940 Million in Wage Credits To More Than 98,000 Employers by 31 March 2021

• Increase in CPF Contribution Rates for Senior Workers from 1 January 2022

FEBRUARY 2021

• PAT is now open for live submission to IRAS for YA2021

• Budget 2021- Extend the 250% Tax Deduction for Qualifying Donations

• Budget 2021- Jobs Support Scheme (JSS)- Extension of JSS for Tier 1 and 2 Sectors

• Budget 2021- Wage Credit Scheme (“WCS”)

• Budget 2021- Jobs Growth Incentive (“JGI”)

• Budget 2021- FOREIGN WORKFORCE POLICIES

• Budget 2021- SGUNITED JOBS AND SKILLS PACKAGE

JANUARY 2021

• No Changes to PAT-IRAS File Specification for Year of Assessment (YA) 2021

• Validation Checks for Wage Declaration on PAT

• CPF submissions using hardcopy forms for e-registered to cease from 2021

DECEMBER 2020

• Over $1 billion in 2020 Wage Credit Scheme payouts to more than 95,000 employers

• Income Tax Treatment of COVID-19-Related Payouts to Businesses and Individuals

NOVEMBER 2020

• No Statutory Updates

OCTOBER 2020

• Over $5.5 billion to be disbursed from 29 Oct under the Jobs Support Scheme

SEPTEMBER 2020

• Overview of Withholding Tax

• Common Errors Made by S45 WHT Payers

• Minimum 4% Interest Rate Floor on Special, MediSave and Retirement Account Monies Extended Until 31 December 2021

• Year End Forms (Year of Assessment 2021)

• Tightening of Work Pass Requirements

• Public Holidays for 2021

• Eligible Firms to Receive Jobs Growth Incentive Automatically from March 2021

• Jobs Growth Incentive (JGI)

AUGUST 2020

• Deferral of Requirements for Insurers Under the Work Injury Compensation Act 2019

JULY 2020

• Income Tax Treatment of COVID-19-Related Payouts to Businesses and Individuals

• Over $4 billion to be disbursed from 29 Jul under the Jobs Support Scheme

JUNE 2020

• Support for Employees

• Enhanced Job Support Scheme

• Over $450 Million in Wage Credits for more than 95,000 Employers by 30 June 2020

MAY 2020

• No Statutory Updates

APRIL 2020

• IRAS Extends Tax Filing Deadlines

• Support for Employees

• Job Support Scheme (JSS)

• Solidarity Budget

• Update on Job Support Scheme (JSS)

• Update on Solidarity Budget

• Extended Tax Filing Deadline

MARCH 2020

• MOM will be increasing the LQS threshold to $1,400

• All work pass holders have to obtain MOM’s approval before commencing their journey

• MOM will be increasing the EP salary to $3,900 per month

• Retirement age and Re-employment Age will be raised to 65 and 70 by 2030

• The CPF contribution rates for senior workers will be raised gradually over the next decade

FEBRUARY 2020

• Quarantine Order Allowance Scheme in Singapore

JANUARY 2020

• No Statutory Updates