IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 25 Feb 2013 | Removal date: 31 Dec 2015

Localisation incentive

On 25 February 2013, Deputy Prime Minister and Minister of Finance, Tharman Shanmugaratnam, held the 2013 budget speech in the Singaporean parliament. Among the biggest changes was the introduction of the 3-year-long Transition Support Scheme, consisting of a 3.6 billion SGD (on that day, 1 USD equalled 0.8066 SGD) Wage Credit Scheme.

Under this scheme, the government will finance 40% of the wage increases for Singaporeans over the three years, if the employee concerned does not earn more than 4'000 SGD per month. Over the course of these three years, the wage increase will be cofinanced even if it is increased multiple times, e.g. in 2013 and 2015.
As this scheme directly affects the competitiveness of foreign workers in Singapore, it shall be classified as a migration measure.

AFFECTED COUNTRIES

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