Introduction
COVID-19 adversely affected the Built Environment (“BE” sector in a multitude o of aspects, causing delays to projects, increased costs, and shortages in materials and manpower. The COVID-19 (Temporary Measures Act) provides legislative relief to the sector.Act“).
Despite the sector’s progress towards recovery, some firms still face challenges. The Government has thus announced the further extension of certain prescribed periods for legislative relief relating to the BE sector under the Act. The prescribed periods were scheduled to expire on 31 December 2021. However the relief periods under Part 2A, Part 8B and Part 8B were extended. 28 February 2022The relief period under Part 10A has been extended. 31 March 2022.
This Update summarises the Act’s extensions as well as the relief available under each Part.
Extension of relief periods
Conclusion Words
The Act has had its relief periods extended a few times to address the long-lasting impact of COVID-19. However, the Ministry of National Development stated in its press release of 27/12/2021 (available) that the Act’s relief periods were not extended enough. Here) that, barring any unforeseen circumstances, this will be the final extension for Part 2 and Part 8B.
You may also notice that the relief period for Part 10A has been extended for a longer period, which is three months. This is due to the continuing rise in foreign manpower salaries experienced by contractors. The extension of the relief period is also meant to complement the extension and rebates for Foreign Worker Levy for the same duration.