Singapore Budget 2018

 
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On 19 February 2018, Finance Minister Heng Swee Keat delivered the Singapore Budget 2018. The Lunar New Year mood felt by many was both festive and jittery on this 4th day of the lunar calendar, as we kept our ears open for Singapore’s economic performance as well as the much-debated Goods and Services Tax (“GST”) hike.

There appears to be a sigh of relief on grounds on hearing that the GST hike would be increased to 9% some time between 2021 and 2025 though Minister Heng had projected the hike to be “sooner than later in the period”.

Singapore Budget 2018 is also packed with strategies emphasizing a longer- term view. For businesses, the theme on learning, re-learning, adapting and growth is not just relevant but sensible.

With this, we have put together a summary of the Tax changes and how it may impact you and your business. We hope you find this Budget update useful!

Wishing you a healthy and prosperous Lunar New Year! 恭喜发财, 万事顺心！

Best regards 

Genevieve



Tax Changes and How It May Impact You & Your Business

BlogGenevieve Chan