IRAS will be disbursing the Wage Credit Scheme (WCS) payouts to employers for the wage increases for their employees in 2013.
The WCS helps employers co-fund 40% of wage increases given to Singaporean employees earning a gross monthly wage of up to $4,000 during the three-year period starting from the year 2013. It was introduced in the Singapore Budget 2013 to help businesses which may face rising wage costs in a tight labour market.
Over 74,000 employers will receive about $800 million in the first tranche of WCS payouts by 31 March 2014. Qualifying employers will receive a notification letter from the Inland Revenue Authority of Singapore (IRAS) by 31 March 2014, informing them of their total payout.
http://www.iras.gov.sg/irasHome/wcs.aspx
Over 74,000 employers will receive about $800 million in the first tranche of WCS payouts by 31 March 2014. Qualifying employers will receive a notification letter from the Inland Revenue Authority of Singapore (IRAS) by 31 March 2014, informing them of their total payout.
http://www.iras.gov.sg/irasHome/wcs.aspx
Employers may also check their eligibility at http://www.iras.gov.sg/irasHome/wcs.aspx from 21 March 2014 onwards. Appeal for the first tranche of payouts ends on 30 June 2014. IRAS will consider appeals on a case-by-case basis. Those who are successful in their appeals will be paid from June 2014 onwards.
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