Singapore Budget 2012 Report by Crowe Horwath First Trust Tax

23 February 2012

Crowe Horwath First Trust Tax is pleased to present the Singapore Budget 2012 Report for our valued clients.

This year’s Budget focused on addressing Singapore’s longer-term challenges and building a better future for Singaporeans. The following are some of the key themes of this year’s Budget:

  1. Fine-tuning existing incentives to encourage the raising of productivity and the growth of innovative enterprises that create new ideas and products.
  2. Adjusting tax policies to provide broad-based support for the growth of small and medium enterprises and to sustain Singapore as a shipping, aviation and financial hub.
  3. Introduction of a comprehensive set of measures to help older Singaporeans work, build up savings and have greater security in retirement.
  4. Expansion of assistance to Singaporeans with disabilities to assist them to work, to be cared for and to maximise their potential at each stage of their life – early childhood, in school, and as adults.
  5. Support lower-income Singaporeans acquire skills, hold good jobs and improve their incomes over time as well as provide assurance to them of a fair system of taxes and benefits through the introduction of GST Vouchers.

Our newsletter mainly focuses on providing the details of the key tax changes for businesses and individuals.

 To view the full report, please click here: Singapore Budget 2012 – by Crowe Horwath First Trust Tax.