Budget 2022 Announcements on Employment Pass and S Pass moves
The Budget Statement 2022 outlined foreign workforce policy moves at the Employment Pass (EP) and S Pass level to strengthen the complementarity between our local and foreign workforce. Details of these moves can be found at here.
On EP and S Pass Policy Changes
FAQ 1. What does it mean by “the changes will apply to new applications from 1 September 2022 and to renewals from 1 September 2023”?
New EP/S Pass applications that are submitted to MOM from 1 September 2022 onwards will be subject to the new EP/S Pass qualifying salary.
For renewal applications, existing EP/S Pass holders whose passes are expiring from 1 September 2023 will be subject to the new EP/S Pass qualifying salary.
FAQ 2. Will businesses have greater clarity on upcoming changes to the EP/S Pass qualifying salary?
MOM will regularly review the EP and S Pass qualifying salaries and announce any changes to the qualifying salaries, taking into account prevailing economic conditions.
FAQ 3. What should businesses do if their existing EP/S Pass holders are unable to meet the updated qualifying salary in the future?
Businesses may also consider if workforce adjustments are necessary. For example, businesses can apply for a more appropriate work pass type for foreign employees who are unable to meet the updated qualifying salary. When replacing workers who have resigned, businesses should consider local candidates or higher-calibre EP/S Pass holders.
More detailed services and information related to Singapore tax can be found and inquired through the PREMIA TNC website.
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