By Paul Smit-Oracle on Jul 04, 2016
Chinese Version -
有 关北 京的2016 年的住房公积金相关的法律变更陆续公布。甲骨文的中国版本的信息声明已经根据最新的法律法规 的公布而修改了。我们建议客户及时从My Oracle Support上去查看最新修改的 信息声明， 文档编号：2095707.1.
GENERAL DECREE 3839/2016
Among other changes, established the obligation to inform total goods as of December 31 of each year, valued according Tax rules on personal property applicable to that date and total income, expenses, admitted deductions pre-payments, when the earned income gross surplus certain amounts. This by Substituting the 649 Format by the 4th Category Annual Liquidation Format. In case of Annual Tax Liquidation Employer must give to each employee the 4th Category Tax Liquidation report between the following 5 business days of the formalized request. In case of employee’s Retirement or Termination between the following 5 days of the Termination.
Our Position Statement has been updated to include more details about these rules and the delivery timeline. The Position Statement can be found on My Oracle Support, Document ID 2128248.1.
Minister for Finance, Singapore, has delivered the FY2016 Budget Statement in the Parliament on 24 March 2016. There are two announcements that require changes to PeopleSoft Global Payroll for Singapore:
The Government has deferred levy increases for Work Permit holders in “Marine” and “Process” sectors while for all the other sectors, Government has decided to proceed with the levy increases announced last year in Budget 2015. Hence the previously proposed increase in levy rates for Marine and Process sectors effective 1st July 2016 will not take effect and the rates from 2015 will be continued. There will be no change to Work Permit levies in the Manufacturing sector as announced in Budget 2015.
The second change is related to the Year-end tax reporting, where it is proposed to remove the tax concession on home leave passages for expatriate employees, while reporting under Appendix 8A. Further information is awaited from IRAS on the specifics of the change post which information on patch availability will be posted.
Our Position Statement has been revised to include these legislative updates and the delivery timelines, where appropriate. We advise customers to review our position statement to keep up-to-date. The Position Statement can be found on My Oracle Support, Document ID 2117537.1.
This blog is dedicated to topics focused on legislative updates to PeopleSoft Applications including Human Capital Management and Financials.
For other useful information about PeopleSoft Applications see the PeopleSoft Applications Strategy Blog.
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