Blog
265,000 foreign workers to restart work
21/08/2020
Will manpower issues for foreign workers in the Construction and Services sectors be ironed out soon? Coronavirus: 265,000 foreign workers get the nod to restart work
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National Wages Council to reconvene in August
21/08/2020
Members of the public can share their views on wage and employment-related issues, as well as pose suggestions to the guidelines, through a feedback form to NWC by 28 Aug 2020, even as the NWC reconvenes to address labour and employment issues affected by the pandemic. See more details below. Contact us at +65 66363691,… View Article
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Possible Discriminatory Hiring
21/08/2020
Some employers are on Tafep watchlist for fair employment opportunities for Singaporeans. Some firms on watch list for possible discriminatory hiring didn’t cast net wide enough for locals
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Manufacturing PMI rises by 2.2
20/08/2020
Manufacturing PMI rises by 2.2. points although economic situation remains volatile in the midst of the pandemic and US-China trade tensions. S’pore factory activity expands in July after 5 months of contraction
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Proposed phasing out SIBOR in 3 to 4 years
20/08/2020
Singapore Overnight Rate Average (SORA) proposed to be progressively used instead of SIBOR as the main interest rate benchmark for SGD financial markets in 3-4 years, to avoid market fragmentation, facilitate transparency and easier comparison of loan pricing. Consultation report proposes phasing out SIBOR in 3 to 4 years, shifting to new standard
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Highlights of latest Covid19 support measures
20/08/2020
Highlights of latest Covid19 support measures announced by DPM Heng on Monday: The Jobs Support Scheme will be extended by up to seven months to March 2021, subsidising wages of local workers by 10 per cent to 50 per cent. The COVID-19 Support Grant will be extended to December to help citizens and PRs who… View Article
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Luckin Coffee delisted for accounting fraud
19/08/2020
Luckin Coffee delisted after accounting fraud case. China says to penalise Luckin Coffee for accounting fraud
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Heavy penalties for tax-related offences
19/08/2020
There are heavy penalties for tax-related offences. Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com if you need assistance with income tax and goods and services tax compliance. Partner in firm gets fine, $1m penalty over tax offences
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Additional Funding for Hardest-Hit Sectors
19/08/2020
Government gives targeted support to aerospace, aviation and tourism sectors: Contact us at +65 66363691, +65 9326 2271 or info@lnmsolutions.com! Extra stimulus for aerospace, aviation and tourism sectors; Singaporeans to get S$320m worth of local tourism credits
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SG sends strong signal on tax avoidance
18/08/2020
Singapore is taking a strong stance to combat tax avoidance, with the announcement by Singapore’s Ministry of Finance (MOF) on July 20, 2020, that it intends to amend the Income Tax Act and Stamp Duties Act to introduce a 50 per cent surcharge on tax avoidance arrangements. This will take effect for adjustments made to… View Article
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