Over 95,000 employers in Singapore to receive S$450m in wage credits by June 30

Published Thu, Jun 11, 2020 · 09:50 PM

Singapore

MORE than 95,000 employers in Singapore will receive over S$450 million in payouts by the end of this month under the Wage Credit Scheme (WCS), the Ministry of Finance (MOF) and the Inland Revenue Authority of Singapore (IRAS) announced in a joint statement on Thursday.

"The Wage Credit Scheme co-funds wage increases given by employers to Singaporean workers. This is one way the government supports businesses which are able to innovate and increase the productivity of their workforce - a win-win-win for workers, businesses and Singapore," Deputy Prime Minister and Finance Minister Heng Swee Keat said in a Facebook post…