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Singapore Budget 2019: Lower foreign worker quota in services sector; continued support for unemployed PMETsSINGAPORE - To keep Singapore's services sector competitive, companies in the sector will have to rely even less on foreign workers.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Tighter tax rules on booze and other buysTHE expansion of goods and services tax (GST) to cross-border shipments worth less than S$400 was missing from the Budget for the second year in a row. Fiscal hawks had hoped for such a levy on Monday, especially with a 'Netflix tax' on foreign online services unveiled last year. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Singapore Budget 2019: Singapore to cut services sector dependency ratio ceiling, defer foreign worker levy rates for shipyard and process sectorsSINGAPORE will reduce the services sector Dependency Ratio Ceiling (DRC) in two steps, from 40 per cent to 38 per cent on Jan 1, 2020, and to 35 per cent on Jan 1, 2021, Finance Minister Heng Swee Keat said in Parliament on Monday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »
Budget 2019: Services sector to face ‘challenge’ of tighter foreign worker quota, but adapting firms will benefitLocal start-up honestbee, for one, believes the impending quota changes will have “minimal impact” on its business. Cut 2 % only what challenge talkijg about? So many jobless just Sell my Headcount for few Hundred dollar everymonth to Company and the Company can hire a Foreigners again...lol.....so common pratice...lol
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
‘Business not as usual’ for companies that rely on foreign workers, say analysts in the wake of budget cuts on foreign employmentAnalysts believe that the Government’s plan to cut the number of foreign workers in the services sectors will affect businesses resulting in slower
Source: IndependentSG - 🏆 2. / 72 Read more »
Some companies may struggle to adopt technology to cut reliance on foreign workersSINGAPORE - The tightening of the foreign worker quota will push companies to adopt technology to address manpower needs, but panellists at an event hosted by radio station Money FM 89.3 say some companies may struggle to make the switch.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
More transparency sought for foreign worker criteriaBUSINESSES are calling for the government to shed more light on the required criteria to bring in foreign workers with 'specialised skills that are in demand globally' as they continue to grapple with talent gaps. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »