For Tassure Asia and many companies, the past 2021 has been a challenging year. Due to the ongoing epidemic, we are required to work from home and use online meetings and training, and to become more technologically savvy. Despite the impact of the epidemic, we remain hopeful about the future.
Furthermore, we conducted offline meetings and internal trainings online, held quarterly group meetings to train our employees, and continuously adapted to the current work rhythm. We have also improved our work processes. We strive to continuously improve employee knowledge, work skills, and achievements while ensuring our existing and new customers receive better service and grow together with us.
Feedback and suggestions from customers give us more motivation and direction to improve our corporate services for you.
In 2022, we will continue to conduct business and provide services regularly by utilizing our experience, knowledge, abilities, and resources. As a team we will ensure your company’s legal compliance and contribute to its sustainable development. No matter how rapidly we grow, we will stay true to our original mission of providing great service and continually improving.
Singapore in 2021: The Important Message to You
- Singapore Growth Domestic Product (GDP) Rate 2021Singapore’s gross domestic product (GDP) in the third quarter grew by 7.1% year-on-year, higher than the 6.5% growth estimated by the government.The Ministry of Trade and Industry of Singapore is optimistic about the GDP growth rate. The previous forecast was 6% to 7%, and the GDP growth rate in 2021 is about 7.0%. It is expected that the economy will grow by 3% to 5% next year.2. Singapore Workforce Report 2021
In June 2021, the rate of employment of youth aged 15 to 24 increased from 30.9% to 37.2%. More students are taking part-time or temporary jobs.
The employment rate for residents aged 25 to 64 increased from 80.3% to 81.8%. Men were employed at 88.9%, and women at 73.2%, respectively. Employment rates for seniors aged 65 and over increased from 28.5% in June 2020 to 31.7% in June 2021.
The unemployment rate for non-professionals, managers, executives, and technicians (PMET) dropped from 3.5% in June 2020 to 3.4% in June 2021, and the unemployment rate for non-PMET residents dropped from 6.4% to 5.1%.
In Singapore, the median income of full-time employed residents increased by 3.2%, reversing the 0.6% decline in 2020.
3. Special tax cuts for 2021
Many households increased their electricity and network expenses as a result of government incentives to work at home during the epidemic. This year, the tax bureau granted special tax reductions: extra electricity and internet expenses incurred by home workers cannot be recouped by their employers.
To qualify for this tax reduction, taxpayers must submit nearly five years’ worth of expenditure records and related documents. For more detailed information, visit the official website of the Inland Revenue Authority of Singapore (IRAS).
4. The workplace in 2021
Work from home has become the default mode. Online communication and collaboration have become the norm for employees who work from home. If employees need to return to the office, they will also need to perform weekly rapid antigen testing (ART).
Workplace social gatherings are prohibited, and employers should not send employees to different locations for work. When employees arrive and leave the workplace, they must use the Trace Together app or portable device to sign into the SafeEntry.
In addition, starting from January 1 next year, all employees must complete the vaccination before returning to the workplace.
Customer Feedback Surveys
We sincerely invite you to participate in customer feedback surveys and hope to hear more feedback from you. Click the link to participate: http://sg.mikecrm.com/EATHrKT
