Singapore Budget - 2012

Singapore€s Deputy Prime Minister and Finance Minister Mr. Tharman Shanmugaratnam delivered his 2012 budget address to the Parliament today (17 Feb 2012). The government aims at achieving an inclusive society and a stronger Singapore. In order to do so, various measures were unveiled this time to upgrade our economy and develop deeper skills, so as to sustain growth, create better jobs in every vacation and enable Singaporeans to earn better incomes and build up their savings for retirement. The key measures introduced and enhanced in this year€s budget includes:

  • 1. Increase the cash payout of Productivity and Innovation Credit (€PIC€) to ease businesses with their cash flows;
  • 2. Extension of cash grant for another year to help SMEs cope with rising costs;
  • 3. Significant package for lower-income, elderly and disabled Singaporeans such as Special Employment Credit, increase in CPF contribution rates, increase in Earned Income Relief, enhancement of medical and healthcare subsidies, Silver bonus scheme for housing, GST vouchers, etc.

Overall, this 2012 budget is a very prudent, caring and generous handouts in terms of grants and subsidies for the poor, aged and disabled € those who need it most!
Business Tax | Personal Income Tax | Good and Services Tax & Stamp Duty

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