Singapore

Last updated on March 12th, 2024

Country Highlights

Currency  

SGD 

Payroll cycle 

Monthly, 13th salary is paid out at the end of the year 

Employer Contribution

CPF Contribution rates depends upon the the Citizenship/PR status etc.

Minimum wage  

No minimum wage laws 

Working hours  

Maximum 44 hours a week 

Latest HR Statutory Updates

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

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