Singapore Budget Commentary - Archive

This commentary provides our Budget analysis on certain tax proposals. To read our analysis and comments, please click the attached pdf file respectively.

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Promoting research and development (R&D) activities in Singapore

• Liberalisation of R&D tax deductions
• R&D tax allowance
• R&D Incentive for Start-up Enterprises (RISE)

• Banking and capital markets
• Islamic finance
• Asset securitisation
• Private wealth management
• Debt and derivative markets
• Project finance
• Incentives to promote offshore insurance businesses

• Certainty of tax treatment of gains on divestments
• Risk management activities
• Maritime Finance Incentive (MFI)

• Liberalisation of the start-up exemption scheme
• Allowance for fixtures, fittings and installations

• Unilateral tax credits
• Further tax deduction for talent relocation expenses
• Portable medical benefits

• Tax rates
• Course fee relief
• Central Provident Fund (CPF)
• Not Ordinarily Resident (NOR) scheme
• Pensions
• Employee equity-based remuneration schemes

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• Changes in tax rates
• One-tier corporate tax system
• Tax deduction for borrowing costs
• Partial/full tax exemption for companies
• Accelerated tax depreciation allowances for certain vehicles
• Extension of tax depreciation for acquisition of intellectual property (IP)
• Enhancements to investment allowance scheme
• International arbitration tax incentive
• Financial services
• Singapore as a philanthropy hub
• Logistics, maritime and aviation services
• Goods and Services Tax (GST)
• Extension of stamp duty relief for reorganisations and intra-group transfers
• CPF changes
• 2006 in retrospect
• PricewaterhouseCoopers thought leadership
• Appendices

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• No changes to tax rates
• Enhancing Singapore’s status as a Global Financial Centre
• Supporting Singapore’s dynamic shipping and logistics industries
• Measures to promote a knowledge-based economy
• Other corporate tax changes
• Goods and Services Tax
• Shortening the record-keeping period
• 2005 in retrospect
• PricewaterhouseCoopers thought leadership
• Appendices

		Reduction in personal tax rates Financial services incentives Logistics incentives Tourism incentives Carry-back of tax losses Welfare measures for Singaporeans Streamlining of limits for CPF contributions Cultivating a more charitable society Stamp duty Estate duty
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		Corporate and personal tax rates Exemption for foreign-sourced income for Singapore resident individuals Exemption of Singapore-sourced investment income for individuals The entrepreneur Financial services incentives Other Incentives Reduction in royalty withholding taxes Topping up the top-up Estate Duty enhancements Building the next generation Goods and Services Tax round up Other changes
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		Corporate and personal tax rates Exemption for foreign-sourced income Exemption of interest on local bank deposits Intellectual property Incentives Non-tax changes to support the entrepreneurs Other changes Goods and Services Tax
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		Budget Highlights covers a snapshot of the Budget changes as well as examines the more notable changes announced.  View/Print (411 KB)
		Budget Commentary is a more in depth technical review of the Budget changes.  View/Print(1.3 MB)

Singapore Budget Commentary 2001    View/Print (476 KB)

Singapore Budget Commentary 2000   View/Print (147 KB)