$ 85 million for employment support program and job growth incentive payments withheld to 2,600 employers, Politics News & Top Stories
SINGAPORE – A total of $ 85 million under the Employment Support Program (JSS) and Job Growth Incentive (JGI) for March 2021 has been withheld from 2,600 employers.
These employers will receive the payments once the authenticity and accuracy of their submitted information has been verified. Payments will be adjusted or declined if issues are detected during the review, the Singapore Revenue Authority (Iras) said in a statement released on Monday (May 31).
He said about $ 52 million in JSS payments and $ 33 million in JGI payments for March 2021 have been withheld, pending employers submitting supporting documents to Iras to substantiate their eligibility.
These 2,600 employers represent about 2 percent of all employers eligible for JSS and JGI payments.
The JSS was introduced in February 2020 to help employers retain their local employees during the period of economic uncertainty caused by Covid-19.
Under this program, the government co-finances a portion of the first $ 4,600 gross monthly salary paid to each local employee, with increased support for the hardest-hit sectors.
The JGI was announced last August to support employers speeding up hiring of local workers, with more support for those hiring workers aged 40 and over, people with disabilities and former offenders.
The Iras statement comes shortly after the announcement last Friday by the Ministry of Finance (MOF) that an $ 800 million support package – including enhanced wage subsidies under the JSS and relief from rents – will be deployed to help businesses and workers cope with the impact of tightening Covid-19 Restrictions.
JSS support will be increased to 50 percent from May 16 to June 13 for companies in the food and beverage, performing arts and arts education and sports sectors, from zero to 10 percent during the period from April 1 to May 15.
These are companies that are required under the enhanced measures to suspend much, if not all, of their operations, the MOF said.
Sectors that are not required to suspend operations but are significantly affected will see wage support increased to 30 percent.
These are businesses in the retail sector, museums, art galleries, historic sites, cinemas, indoor playgrounds and other family entertainment centers.
The enhanced payment will be disbursed in September.
Iras said that by the end of May, she had concluded the review of more than 800 JSS and nearly 1,100 JGI payments from the March 2021 installment, with around $ 16 million in disallowed payments under of each program.
This corresponds to more than 500 and 800 employers who saw their March 2021 payments denied for JSS and JGI, respectively, he said.
The total of JSS payments denied since the inception of the plan is approximately $ 44 million.
Iras has also received around 500 whistleblower reports of employers suspected of abusing both systems.
“Each report is thoroughly evaluated. Several have provided us with useful avenues for follow-up,” the agency said.
“Iras thanks those who have stepped forward to provide information, as this complements Iras’ efforts to ensure that public funds are used fairly and appropriately to support only those who are eligible,” he said. -he adds.