Knowledge Highlights 21 February 2020

Singapore Deputy Prime Minister and Minister for Finance Heng Swee Keat delivered the Budget Statement for the Financial Year 2020 on 18 February 2020. We are pleased to highlight the key tax changes impacting businesses announced in the Budget. Among other initiatives, the Minister announced a Stabilisation and Support Package which provides temporary measures to provide support for enterprises to weather the near-term economic uncertainties. In addition, tax changes were announced for the financial industry, including extending and refining certain schemes and incentives to encourage growth and development in certain sectors.

To read the Tax Update, click here.