Budget Commentary 2013 - Singapore

Striking the right balance

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

Corporate tax

  • Tax rate and rebate
  • Start-up tax exemption scheme
  • Productivity and Innovation Credit
  • Wage credit scheme
  • Withholding tax exemptions for the telecommunications industry
  • Land Productivity Grant
  • Withdrawal of tax incentives

Maritime sector incentive

Financial services

  • Financial sector incentive scheme
  • Tax incentives for the development of the bond market
  • Tax incentives for insurance
  • Asset management

Personal tax

  • Personal income tax rebate
  • Phasing out of the equity remuneration incentive scheme
  • Taxation of employer-provided accommodation
  • CPF contributions for lower income employees
  • Medisave for self-employed persons
  • Workfare income supplement scheme

Others

  • One-off GST voucher special payment
  • Excise duty on tobacco products
  • Property tax
  • Vehicle taxes
  • Reduced foreign domestic worker levy
  • Reducing dependence on foreign workers
  • 2012 in retrospect
  • 2012 in snapshot
  • Snapshot of tax cases in 2012

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

 

PwC thought leadership articles

  • Fund managers’ wishlist for Budget
  • Managing immigration: What Singapore can learn from others
  • Consider tax relief for population woes
  • Iskandar for Singapore businesses – a nearshore advantage?
  • Need to tweak policies on productivity and workforce
  • No longer just a question of paying taxes
  • Opportunities await savvy investors
  • Off the cuff
  • What Singapore must do to be a premier investment fund centre
and more ...