Singapore Regulatory:

• A new platform for low-paid employees to check their salaries
  • The PW Portal, available from Jan 26^th 2024, helps low-wage employees ensure that their wages comply with the Progressive Salary Model (PWM) or Locally Qualified Wages (LQS).
    • Reference
•  Key points of the 2024 Budget for Human Resources and Business
  • Singapore’s 2024 Budget was announced on Feb 16^th For enterprises, key points include: SkillsFuture Advance Program, Upgrading of the status of low-paid employees, Singapore’s Central Provident Fund (CPF), and Retirement benefits.
    • Reference
•  The compensation limits under the Worker Injury Compensation Act (WICA) will be Increased
  • The Ministry of Manpower (MOM) will implement the latest compensation limits under the WICA from Nov 1^st The changes include a 19% increase in compensation limits for death and permanent incapacity to S$26.9k and S$34.6k respectively.
    • Reference
•  Singapore’s retirement and re-employment ages will be raised.
  • From July 1^st 2026, the retirement age in Singapore will be raised to 64 years old, and re-employment age will be raised to 69.
    • Reference
•  Singapore will raise the minimum monthly salary threshold for Employment Pass (EP) applicants in 2025
  • In 2025, the minimum monthly salary threshold for new EP applicants will increase to S$5.6k.
    • Reference
•  Interest rates on CPF special accounts, MediSave and retirement accounts in Singapore fell to 4.05% in the second quarter
  • Reference

Malaysia:

• Mandatory 2 new columns in the CP8D form, i.e., employment status and retirement date/contract termination date. Subsequently, from March 2024, employee status will be divided into one of the six categories:
• • Organization management
  • Permanent
  • Contract
  • Part-time job
  • Internship
  • Other
    • Reference
• Employer delays filing 2023 From E
  • Malaysia has announced the extension of the time for filing Form E by 2024 employers from March 31^st 2024 to April 30^th
    • Reference

Thailand Regulatory:

• Thailand extends deadline for electronic tax filing
  • On Jan 17^th 2024, the Thai Ministry of Finance announced that it would extend the filing deadline for e-tax returns and various taxes forms by eight days, starting from Feb 1^st 2024 to Jan 31^st, 2027.
    • Reference
•  Ten provinces raised their minimum wage
  • Thailand raised its minimum wage to 400 baht in 10 provinces from April 13^th
    • Bangkok’s Pathumwan and Watthana districts
    • The whole of Phuket
    • Areas under the juirstiction of the Tambon Ao Nang administrative organization of Krabi
    • Heai City, Songkhla Province
    • Samui District, Surat Thani Province
    • Tambon Khuk Khak City, Phang Nga Province
    • Pattaya, Chonburi Province
    • Hua Hin City, Bashu Province
    • Tambon Ban Phae, Rayong Province
      • Reference

Comrise

At Comrise, we offer tailored solutions for the full-time, part-time, direct-hire, contract, and permanent talent that your business needs. For 40 years, we have delighted our clients and candidates by focusing on customer satisfaction, innovation, and flexible workforce solutions! 

If you’re looking for new job opportunities click here, or if you’re looking for a reliable partner to help you secure top-notch candidates for hard-to-fill roles, click here.