Budget Commentary 2012 - Singapore

This commentary provides our Budget analysis on certain tax proposals, including:

  • Corporate tax changes
    • Productivity and Innovation Credit
    • Gains on disposal of equity investments
    • Mergers and Acquisitions scheme
    • Renovation and refurbishment tax deduction scheme
    • Capital allowance claims for low value assets
    • Integrated Investment Allowance
    • Double Tax Deduction for Internationalisation
    • Filing and payment deadline for withholding tax
  • Maritime and aviation
    • Maritime sector
    • Aircraft leasing
  • Financial services
    • Liberalised withholding tax exemption regime for banks
    • Withholding tax exemption for over-the-counter financial derivative payments
    • Tax deduction for collective impairment provisions
    • Designated investment and specified income lists for financial sector tax incentives
    • Real estate investment trusts
    • PIC in financial services
  • Personal tax changes
    • Benefits for the elderly
    • Silver Housing Bonus and Lease Buyback Scheme
    • Special Employment Credit
    • Other changes
    • Missed opportunities
  • Goods and Services Tax
    • Exemption on investment-grade gold and precious metals
    • GST temporary import period
    • GST Tourist Refund Scheme
    • GST import relief for incoming travellers
    • GST Vouchers
  • Other indirect tax measures
    • Vehicle tax changes
    • Excise duties for tobacco products
  • 2011 in retrospect
  • 2011 in snapshot
  • PwC thought leadership articles
  • Appendices
    • A. Comparison of Asia Pacific effective tax rates on repatriated corporate profits
    • B. Comparison of Asia Pacific individual tax liabilities
    • C. Resident individual tax rates