Solidarity Budget 2020 (3rd Round of Strong Support Measures)
On 6 April 2020, the Singapore Deputy Prime Minister and Minister for Finance, Heng Swee Keat unveiled in Parliament, a 3rd round of a strong enhanced support measures to help tide business, workers and households through the COVID-19 outbreak which had taken a sharp turn both globally and locally. The 1st Budget (Unity Budget) was…
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Supplementary Singapore Budget 2020 – Second Stimulus Package
On 26 March 2020, Deputy Prime Minister and Finance Minister Heng Swee Keat delivered the Resilience Budget for businesses and households in response to the accelerated spread of COVID-19 and is now a global pandemic. This second stimulus package provides a slew of new measures and enhancements to existing schemes aiming at stabilizing Singapore’s economy,…
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Singapore Budget 2020 – Others
NAVIGATION EV Early Adoption Incentive For Fully Electric Cars Road Tax For Electric Cars Road Tax For Petrol-Electric Cars Road Tax For Electric Motorcycles Road Tax For Electric Light Goods Vehicles (LGVS) And Electric Goods Passenger Vehicles (GPVS) With Maximum Laden Weight Of ≤3.5 Metric Tonnes 1. EV EARLY ADOPTION INCENTIVE FOR FULLY ELECTRIC CARS…
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Singapore Budget 2020 – Individuals and Households
NAVIGATION Individual Income Tax Rate Extension Of Withholding Tax Exemption For Non-Resident Mediators Extension Of Withholding Tax Exemption For Non-Resident Arbitrators Extension Of Concessionary Withholding Tax Rate For Non-Resident Public Entertainers (NRPEs) Lapse Of Angel Investors Tax Deduction (AITD) Scheme Rental Waiver For Hawkers Service And Conservancy Charges (S&CC) Rebate Additional Gst Voucher – U-Save…
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Singapore Budget 2020 – Goods and Services Tax (GST)
NAVIGATION GST Rate 1.GST RATE As announced in Budget 2018, the GST rate is planned to go up from 7% to 9% between year 2021 and 2025. This is necessary as the Minister foresee support in higher healthcare and other needs in the near future. In Budget 2020, the Finance Minister had unveiled that…
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