New budget also outlines post-pandemic employment and business support worth US$372m
A construction crane is seen from a street lined with heritage shophouses in the business district in Singapore. (Bloomberg Photo)
Singapore is raising taxes on the wealthy and increasing other levies, including the Goods and Services Tax (GST), to restore its finances after unprecedented expenditures to weather the coronavirus pandemic.
Finance Minister Lawrence Wong has also announced a package worth S$500 million (US$372 million) to support jobs and businesses as part of the budget for the fiscal year starting April 1, adding that the government will extend separate targeted help for the struggling aviation sector.
We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
