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Singapore Budget 2022 commentary

Active economy. Beautiful environment. Caring society.

Budget 2022 roundup

This year’s Singapore Budget, presented on 18 February, is focused on preparing us for future challenges and opportunities so that we can continue to strengthen our competitiveness as a financial and business hub. Hear from Chris Woo, Tax Leader, PwC Singapore and Kor Bing Keong, GST Leader, PwC Singapore  on their key takeaways from the Budget.

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5:29

Active economy

Business measures in the Budget continue to be targeted at the SMEs, to lend a hand in their journey to digitalise and transform. The Government gave advance notice of an upcoming Minimum Effective Tax Rate (METR) regime given the impact that the BEPS 2.0 project will have on our corporate tax system, and the rules remain to be finalised. Corporate tax changes this year are thus limited. With the announcement of the intention to implement a METR regime, next year’s Budget could herald in a sea-change to our corporate tax system.

Active economy

Beautiful environment

The Government’s message is clear - it is time to be bold if we want to achieve our climate goals and the stakes have never been higher. As we advance our green transition, Singapore will be able to tap into exciting possibilities from green technology innovation and emerging green sectors.

Singapore strengthens resolve to achieve net zero

Caring society

Budget 2022 continues to deliver on our social compact, with a focus on supporting the most vulnerable, uplifting lower-wage workers, boosting retirement adequacy and ensuring access to quality and affordable healthcare. These are responsibly funded by a fair and progressive tax system that will not shift the burden to future generations.

Contact us

Chris Woo

Tax Leader, PwC Singapore

+65 9118 0811

Email

Allison Cheung

Asia Pacific Tax Reporting and Strategy Leader, PwC Singapore

+65 8218 8350

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Andrew Fairfoull

Transfer Pricing Leader, PwC Singapore

+65 9620 7417

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Anuj Kagalwala

Asset and Wealth Management Tax Leader, PwC Singapore

+65 9671 0613

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Elaine Ng

Transportation and Logistics Leader, PwC Singapore

+65 8223 1126

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Eu-Lin Fang

Sustainability and Climate Change Leader, PwC Singapore

+65 9817 8213

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Kor Bing Keong

Goods and Services Tax Leader, PwC Singapore

+65 9112 6982

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Lennon Lee

Partner, Retail and Consumer Tax Leader, PwC Singapore

+65 8182 5220

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Paul Lau

Partner, Tax, PwC Singapore

+65 8869 8718

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Tan Ching Ne

Digital Tax Leader, PwC Singapore

+65 9622 9826

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Dr Zubin J Daruwalla

Health Industries Leader, South East Asia Consulting, PwC Singapore

+65 9751 7023

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Brendan Egan

Partner, Financial Services Tax, PwC Singapore

+65 9627 4720

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Irene Tai

Partner, ESG Tax, PwC Singapore

+65 9756 8439

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Kexin Lim

Partner, Corporate Tax, PwC Singapore

+65 9784 8577

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Suk Peng Ding

Partner, Corporate Tax, PwC Singapore

+65 9729 4016

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Tan Tay Lek

Partner, Tax, PwC Singapore

+65 9179 2725

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Tan Hui Cheng

Partner, Tax, PwC Singapore

+65 8338 5182

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Trevina Talina

Partner, Tax, PwC Singapore

+65 9639 4203

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