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Wage Credit Scheme payouts helped employers raise Singaporean workers salary. TNP FILE PHOTO
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More than 95,000 employers received over $1 billion in payouts under the Wage Credit Scheme (WCS) this year to help them fund the wage increases of their Singaporean employees.
The next tranche of payouts will take place in March next year, said the Ministry of Finance and Inland Revenue Authority of Singapore (Iras) in a statement yesterday.
Employers do not need to apply for WCS payouts. Those who are eligible will be notified by end-March on the amount they will receive.
To qualify for the eighth tranche of payouts, employers must have raised the gross monthly wages of their Singaporean employees by at least $50 this year, or maintained the previous wage increase of at least $50 given in 2017, 2018 and/or 2019, or done both these things.
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A director of a company that deals with electrical and metal subcontracting works has become the first person here to be sent to jail for giving false information to the Inland Revenue Authority of Singapore (Iras).
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SINGAPORE - A director of a firm that deals with electrical and metal subcontracting works has become the first person here to be sent to jail for giving false information to the Inland Revenue Authority of Singapore (Iras).