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Singapore’s FY2023 Budget Statement was announced by Deputy Prime Minister and Minister for Finance, Mr Lawrence Wong on Tuesday, 14 February 2023 in the Parliament.
Themed “Moving forward in a new era”, Budget 2023 is largely focused on building capabilities and seizing new opportunities in a new era of global development, with support for young families and continued assistance for the more vulnerable groups to cope with rising cost of living.
Key measures and what it means for your business
Here are our observations of some of the key measures announced and their potential impact on businesses moving forward.
Singapore Budget 2023 quick bites
Hear from our PwC professionals about what stood out for them in this year’s Budget and what it means for businesses.
0:50
Singapore Budget 2023 quick bites: Support for E-commerce
What really stood out to you from the Singapore Budget 2023? For Tan Ching Ne, our Corporate Tax Leader, it was the enhancement of the Double Tax Deduction for Internationalisation Scheme to support e-commerce players in growing their business overseas. Hear from Ching Ne as she shares what businesses need to know in
Support for E-commerce
What really stood out to you from the Singapore Budget 2023? For Tan Ching Ne, our Corporate Tax Leader, it was the enhancement of the Double Tax Deduction for Internationalisation Scheme to support e-commerce players in growing their business overseas. Hear from Ching Ne as she shares what businesses need to know in this Singapore Budget 2023 quick bites video.
1:42
Singapore Budget 2023 quick bites: Growth for SMEs
Given the increasing pressure in inflation, Small Medium Enterprises (SMEs) are experiencing additional challenges. The extension of the Enterprise Financing Scheme and newly introduced SME Co-Investment Fund have been put in place to help businesses tide through the rising costs. Let’s take stock on these measures
Growth for SMEs
Given the increasing pressure in inflation, Small Medium Enterprises (SMEs) are experiencing additional challenges. The extension of the Enterprise Financing Scheme and newly introduced SME Co-Investment Fund have been put in place to help businesses tide through the rising costs.
Let’s take stock on these measures with our Tax Partner, Kexin Lim, as she explains further on the schemes mentioned in the Budget 2023 announcement.
1:15
Singapore Budget 2023 quick bites: Moving beyond environment
Budget 2023 highlights our social compact and more support is set to be given to companies that employ individuals with disabilities and ex-offenders under the Enabling Employment Credit. Focusing on the S pillar of ESG, our Sustainability and Climate Change Leader, Fang Eu-Lin walks us through her views and what are
Moving beyond environment
Budget 2023 highlights our social compact and more support is set to be given to companies that employ individuals with disabilities and ex-offenders under the Enabling Employment Credit.
Focusing on the S pillar of ESG, our Sustainability and Climate Change Leader, Fang Eu-Lin walks us through her views and what are the next steps the businesses can take to drive a better social impact.
0:58
Singapore Budget 2023 quick bites: Workforce capabilities
Job-Skills integrators were suggested by the Government in the Budget announcement to link up industry, training and employment facilitation partners to ensure workforce training translates into positive outcomes. Get a better understanding of this scheme/approach from Martijn Schouten, PwC Southeast Asia
Workforce capabilities
Job-Skills Integrators were suggested by the Government in the Budget announcement to link up industry, training and employment facilitation partners to ensure workforce training translates into positive outcomes.
Get a better understanding of this scheme/approach from Martijn Schouten, PwC Southeast Asia Consulting’s Workforce Transformation Leader, as he provides suggestions for companies to enhance talent competitiveness.
Singapore Budget 2023 proposals
Leading up to the budget announcement, we provide our proposed measures to the Government - aimed at renewing Singapore’s strength as a global business hub with the capabilities of responding quickly to the rise of the digital and platform economies, changes in international trade and global supply chains, and more aspects to repivot Singapore’s global relevance as well as its competitiveness.
Read our Budget 2023 proposals
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Contact us
Ng Siew Quan
Asia Pacific Leader, Entrepreneurial and Private Business, PwC Singapore
Tel: +65 9726 9880
Sustainability and Climate Change Practice Leader, Partner, PwC Singapore
Tel: +65 9817 8213
Workforce Transformation Leader, PwC South East Asia Consulting, PwC Singapore
Tel: +65 9667 4961
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