No major tax changes but fiscal prudence reiterated
Singapore
SOME observers had hoped to see more tax reforms and benefits in this year's Budget, but were disappointed that these did not materialise.
However, others whom The Business Times (BT) spoke to, welcomed the more targeted plans shared by Deputy Prime Minister and Finance Minister Heng Swee Keat after last year's sizeable draw on the country's past reserves.
David Sandison, Grant Thornton Singapore's practice leader and head of tax, noted that there was little on taxes and public revenue preservation or recovery.
"We had hoped for some significant changes…
GET BT IN YOUR INBOX DAILY
Start and end each day with the latest news stories and analyses delivered straight to your inbox.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Sunak says UK to raise defence spending amid global threats
China’s central bank hints it may add treasury bond trades to policy toolkit
US business activity cools in April; inflation measures mixed
India’s inflation at risk from extreme weather, geopolitical issues: central bank
Thailand to replace military-appointed Senate, reduce its powers
Bankers lose hope of London IPO revival for another year