The Enhanced EFS-WCL will start in March 2020 and is available for one year till March 2021. To date, NTUC FairPrice, Giant and Sheng Siong have agreed to accept these vouchers. Grocery Vouchers can be used at participating supermarkets. This includes both employees and self-employed persons. (Last updated on 12 October 2020 04:58:01), Improve Business Capabilities and Leadership. A new Temporary Bridging Loan Programme (TBLP) will be introduced to provide additional cash flow support for tourism sector enterprises. You can opt-out if you want to.

We will assume you are fine with this. WSG will enhance support under the Adapt and Grow initiative for more directly impacted sectors, such as hotel, retail, food services, tourism, and air transport. Summary and highlights from Singapore Budget 2020: 1. CorpPass Registration and Third Party Authorisation, Audit Exemption for Singapore Small Companies Concept, Company Secretary and Its Role and Responsibilities in Singapore, AGM and Annual Return for a Singapore Private Limited Company, How to Transfer Business Ownership in Singapore, A Guide on Register of Registrable Controllers, Home Office Scheme in Singapore with HDB and URA, Reasons to Set Up Investment Holding Company in Singapore, Foreign Company Re-domiciliation to Singapore, Why Choose Singapore for Foreign Company Relocation, ACRA: Singapore Registrar of Companies (ROC), A Comprehensive Guideline for Foreigners to Start a Business in Singapore, Singapore Company Register Website – BizFile+, Singapore Companies in Free Trade Zones and Freeport, A Beginner’s Guide to Everything You Need to Know to Form a Private Limited Company in Singapore. Singaporeans who received Workfare Income Supplement (WIS) payments in Work Year 2019 will be eligible for a Workfare Special Payment (WSP) in 2020.

A Guide to Working in Singapore As a Part-Time Employee, Guide to Terminating or Retrenchment Employees in Singapore, Singapore’s Work Injury Compensation Act 2019 Updates, Employee Stock Option Plan (ESOP) in Singapore, A Guide to Successfully Performing an Employee Onboarding Process, Singapore Government Grants | Financing Schemes | Assistance, Private Debt Financing For Singapore Companies, Private Equity Financing for Singapore Companies, Government Schemes to Improve Staff Work-Life Balance, Government Grants to Support your Human Resources Functions, Productivity Solutions Grant (PSG) in Singapore, Grants and Programmes for Your Business (COVID-19 Edition), Doing Business in Singapore VS United Kingdom, Doing Business in Singapore VS New Zealand, Doing Business in Singapore VS The British Virgin Islands, Doing Business in Singapore VS Switzerland, Doing Business in Singapore VS Philippines, Company Setup in Singapore to do Business in Malaysia, Company Setup in Singapore to Do Business in India, Company Setup in Singapore to do Business in Australia, Ministerial Statement August 2020 Summary, Singapore Budget 2011 – Important Tax Changes Reminder, Role and Responsibilities of a Singapore Company Resident Director and the Risk Involved Being a Nominee Director. By February 2020, when the first budget was presented, the pandemic COVID-19 was already hitting hard in China, but only 800 cases were reported outside China. Temporary Bridging Loan Programme for Tourism Sector Enterprises.

The Government will raise the maximum loan quantum from $300,000 to $600,000, and enhance the Government’s risk-share to up to 80% (from the current 50% to 70%) for SMEs borrowing from Participating Financial Institutions under the scheme. Ministerial Statement – Aug 2020. Land Intensification Allowance (“LIA”) scheme, Further tax deduction scheme for R&D expenditure under Section 14E of the ITA (“Section 14E incentive”). Employers will receive an 8% cash grant on the gross monthly wages of each local employee (applicable to Singapore Citizens and Permanent Residents only) for the months of October 2019 to December 2019, subject to a monthly wage cap of $3,600 per employee. Understanding A Singapore Company Local Resident Director’s Responsibility, Childcare Leave and Extended Childcare Leave in Singapore, Medical and Hospitalization Leave in Singapore, Outpatient Health Care Benefits for Employees in Singapore, Optical Benefits for Employees in Singapore, Mitigating DNS Account and Records Tampering, Safely Dispose Computer and Portable Storage Media, Why Social Media is Necessary for Business Marketing, Technology Tools for Work From Home Staff, How Secure is This Video Conferencing Tool – Google Meet, Cybersecurity Safety Tips on Remote Working, Assembling Your All-stars Team, Tips to Know, Making the Transition Into Entrepreneurship, Free and Economical Tools and Resources Entrepreneurs Can Utilise, Selecting the Right Funding Option, Why It is Crucial to Start-ups, Environmental Services Industry Digital Plan, Singapore AGM and Annual Returns Calculator, Singapore Corporate Income Tax Calculator for YA 2020, Singapore Corporate Income Tax Calculator for YA 2019, Singapore Foreign Worker Quota Calculator, Singapore’s Data Protection Notice Generator, Free SSIC Code Search for Business Activities in Singapore, Singapore Employment Pass / S Pass Self-Assessment Tool (SAT), 3ecpa.com.sg is a Leading Online Company Registration Services Provider in Singapore. Eligible tenants/lessees may include those providing commercial accommodation, retail, F&B, recreation, entertainment, healthcare and other services.

This website uses cookies. A total of $800 million has been aside to help the economy recover from COVID-19, even as the severity and duration of COVID-19 remains unclear. With this, measures worth over $48 billion were set aside to deal decisively with the situation at hand. In addition to the structural social subsidies given to Singaporeans in healthcare, education, and housing, there is the Care and Support Package of about $1.6 billion set aside to support households and alleviate concerns over the cost of living during an unusual period. Can Employment Pass Holder Be the Director in Singapore? Section 14E incentive will lapse after 31 March 2020.

As a start, funding support duration for the following existing redeployment programmes will be extended from the current three months to a maximum of six months. To save jobs, support workers, and protect livelihoods. To help alleviate costs for businesses located in other Government-owned / managed facilities, Government agencies such as HDB, PA, SLA, NParks, JTC, URA, STB and SDC will provide half a month’s worth of rental waivers to eligible commercial tenants/lessees who are on leases not exceeding three years and do not pay Property Tax. Maritime Sector Incentive (“MSI”) and Finance and Treasury Centre (“FTC”) schemes Both schemes are extended till 31 December 2026. Companies that file their ECI before 19 February 2020, and have ongoing instalment payments to be made in March 2020.