Over $4b in grants distributed to businesses, workers: IRAS

More than 120,000 enterprises received grants from the agency.

The Inland Revenue Authority of Singapore (IRAS) assisted over 120,000 enterprises in Singapore through grants in FY22/23.

Based on the agency’s annual report, it disbursed $4.6b in grants to support local hiring and wage growth for Singaporeans.

The grants come under various schemes, including Jobs Growth Incentive (JGI), Progressive Wage Credit Scheme (PWCS), Senior Employment Credit (SEC) and Small Business Recovery Grant (SBRG).

Breaking down the grants by the scheme, IRAS said $2.7b of the $4.6b were under the JGI to support over 68,000 businesses with local hiring.

Meanwhile, $1b was disbursed under the enhanced PWCS to “provide transitional wage support for over 70,000 employers, with higher Government co-funding for lower-wage workers.”

Under the SEC, IRAS distributed $319m to over 95,000 employers who hired Singaporean workers.

The agency also distributed $136m under the SBRG to provide over 41,000 eligible small businesses most impacted by the COVID-19 restrictions a one-off cash support in June 2022.

Follow the link for more news on

Inland Revenue Authority of Singapore

Reaching the people who run Asia's businesses is harder than it used to be.

Inboxes are crowded. Attention is short. The executives you most want to reach — the founders, CFOs, and operators who actually move budgets — are the hardest to find through the usual channels. If you're building a company, a category, or a reputation, you already know this.

We've spent twenty years building the room they read. Singapore Business Review is where senior decision makers in Singapore and across Southeast Asia come for business coverage they can't get elsewhere — in print, online, and in person at the summits and roundtables we host across seven markets.

If you have something these readers should know about — a point of view worth publishing, a product worth their attention, an event worth their time — we'd like to hear what you're trying to do.

Book a meeting

| Or download the media kit (PDF)

240,000 senior readers quarterly in print Top 1,700 Singapore companies reached

7 markets across Southeast Asia