December 10, 2021
Singapore announces changes to COVID-19 tax and Central Provident Fund support measures for individuals and employers for Year of Assessment 2022
Since the onset of the COVID-19 pandemic last year, the Inland Revenue Authority of Singapore (IRAS) and CPF Board announced several COVID-19 support measures in 2020 to support employers and their impacted workforce. With Singapore now embarking on the endemic COVID-19 road map, companies have displayed resilience in rapidly adapting their business strategies to address challenges and opportunities in a post-pandemic future. In response, the IRAS and CPF Board have reviewed their support measures in 2021 and reduced the extent of support measures offered following the gradual reopening of borders.
A Tax Alert prepared by EY's People Advisory Services group, and attached below, provides additional details.
Full text of Tax Alert