close

Newsroom

MGI Alliance PAC produce paper on this year's Singapore Budget

8th July 2016

MGI World MGI Worldwide accounting network member firm MGI Alliance PAC white paper screen shot

This year’s Singapore Budget has measures to help companies manage the economic slowdown and seek opportunities to grow in the midst of increasing uncertainty about the global economic and financial landscape. 

New initiatives were announced to help companies engage in infrastructure projects and to give better support to local enterprises. 

MGI Alliance PAC (formerly MGI Menon & Associates) and long-standing member of MGI Worldwide for some 17 years, summarize the key initiatives that would impact businesses. 

The paper looks at the enhanced Corporate Income Tax (CIT) Rebate that is given to all companies to help them deal with rising business costs including Productivity and Innovation Credit (PIC) and cash pay-out, SME Working Capital Loan (WCL), the Automation Support Package (ASP) scheme, Extended Special Employment Credit (SEC), Enhanced Mergers and Acquisitions (M&A) Scheme, Double Tax Deduction Scheme (DTD) and Personal Income Tax Rates, among others.

Imran Assan, Partner at the Firm and also International Committee Member for MGI representing the Asia Area concludes that, “From a business perspective, this Budget is one that should be welcomed by all SMEs. It indicates the government's shift towards a more calibrated and targeted approach in helping SMEs in specific industries whereas previous Budgets appeared to be more broad based.”

DOWNLOAD THE SINGAPORE BUDGET 2016 (PDF) HERE

For more information contact Imran Assan at imran@mgimenon.com or visit their MGI Worldwide member profile page HERE.

Read more on Member white papers and Asia

MGI World India landscape with text and Lehman Brown elements

China offers new VAT Tax relief for SME's and Self-Starters. MGI Worldwide member LehmanBrown International Accountants explains

20th May 2021

In his recent white paper, Dickson Leung, partner at MGI Worldwide CPAAI member firm LehmanBrown...

MGI World Blue abstract line graphic with Global IFRS Specialist Group text

Global IFRS Group reports on the Treatment of financial assets that are debt instruments under IFRS 9 ‘Financial Instruments'

16th April 2021

In this, the latest white paper from our Global IFRS Group, Jane Lowden from F.W. Smith, Riches...

MGI World HK Budget 518X362

Do you have clients with interests in Hong Kong? Read a quick summary of what the recent Hong Kong 2021/22 Budget means for your client's business

8th March 2021

Mr. Paul Chan, Financial Secretary for the Hong Kong Special Administrative Region (HKSAR),...