Phase 2 Heightened Measures to be replaced with 2-step plan From June 14th, 2021, the existing COVID-19 heightened measures are being relaxed in a two-step process which will see an increase in group gatherings from the previous 2 persons to now 5 persons. However, employers should be aware that the current position of employees working from home as default will continue to apply. Business owners who want to find out more details of the current workplace measures may refer to the MOM website: www.mom.gov.sg/covid-19/requirements-for-safe-management-measures... See MoreSee Less
The recent G7 Summit Meeting: Proposed Worldwide Minimum Tax Rate As part of the G7 Summit’s proposals from their meeting starting on June 11 to 13th, 2021 is a worldwide minimum tax rate of 15%. This has led to discussions in Singapore as to how this would affect local businesses and entrepreneurs alike, particularly concerning concessionary tax rates under the Pioneer Certificate Incentive and the Development and Expansion Incentive. To find out more about this proposal from the G7 summit please see here: www.cnbc.com/2021/06/11/biden-and-g-7-leaders-will-endorse-a-global-minimum-corporate-tax.html... See MoreSee Less
Singapore Food Agency’s Agri-Food Cluster Transformation Fund: What you need to know.
The Singapore Government has ambitions to reach a ‘30 by 30’ target for its locally produced foods sector.
This means that by year 2030, the aim is for 30% of Singapore’s overall nutritional needs to be locally produced/sourced.
To attract businesses in working towards this ambitious target, the Singapore Food Agency introduced a SGD 60,000,000 fund on March 4th, 2021 which substitutes the previous Agriculture Productivity Fund.
The new fund will target:
1. Technology Upscaling (including infrastructure/building costs for new/retrofitted farm premises;