THE SINGAPORE BUDGET 2023
We have pleasure in enclosing an extract of the Singapore Budget 2023 – Tax Changes and Enterprise Disbursement, from IRAS presented in Parliament on 14 February 2023 by Deputy Prime Minister and Finance Minister Lawrence Wong for your information. This year’s budget focus on “Moving Forward in New Era”, to help Singaporean through the high…
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Tax Dept
Mr Paul Wan honored by International Accounting Bulletin
Morison KSi has announced that it has rebranded as Morison Global. This rebrand celebrates the association’s worldwide membership base of 150 member firms across more than 75 countries and immediately makes the brand internationally relevant. In 2020 the association released a new visual identity, and the name change is the final piece of the brand…
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Paul Wan, FCA
Singapore Budget 2021 – Others
NAVIGATION Enhancement of Electric Vehicle (EV) Early Adoption Incentive (EEAI) Transitional Offset Measures for Vehicles Using Petrol Revision to Petrol Duty Rates 1. ENHANCEMENT OF ELECTRIC VEHICLE (EV) EARLY ADOPTION INCENTIVE (EEAI) To encourage early adoption of EV, a 45% rebate on the Additional Registration Fee (ARF) for electric cars and taxis will be granted…
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Tax Dept
Singapore Budget 2021 – Individuals and Households
NAVIGATION Individual Income Tax Rate GST Voucher (GSTV) – Cash Special Payment GST Voucher (GSTV) – U-Save Special Payment Service and Conservancy Charges Rebate (S&CC Rebate) Top-Ups to Child Development Account, EDUSAVE Account, and Postsecondary Education Account Community Development Council Vouchers Scheme) Reduction in S Pass Sub-Dependency Ratio Ceiling (DRC) Foreign Worker Levy (FWL) Rates…
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Tax Dept
Singapore Budget 2021 – Goods and Services Tax (GST)
NAVIGATION GST Rate Imposition of GST on Imported Low-Value Goods Change of Basis for Determining Zero-Rating Supply of Media Sales 1. GST RATE Currently, the GST rate remained at 7%. GST rate is planned to increase from 7% to 9% between year 2022 and 2025, and it will take place “sooner rather than later” depending…
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