The Business Times - Some businesses may pass on costs from local qualifying salary hike, but impact likely ‘limited’ (Feb 2024)

Following the unveiling of Budget 2024, Justin Lim, our Partner, Head of Outsourcing (Singapore) and Head of Corporate Secretarial (APAC) was featured on The Business Times on 22 February 2024.

He discussed the adjustments to the Local Qualifying Salary (LQS), noting, "Workers in these sectors typically earn above the LQS threshold, hence the revision does not necessitate a wage increase for them," Justin explained.

Read the full article on The Business Times.

You can also view the print article below.

Outsourcing

With Mazars' strong outsourcing advisory record, businesses are geared to scale with an unprecedented level of flexibility. Work with us for your matters such as HR & Payroll, Tax Compliance, Accounting and Reporting, and more.