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 Global IFRS white paper Sep 2020 518x362.jpg

MGI Worldwide with CPAAI's Global IFRS Specialist Group gives a brief overview on Covid 19, Lease Accounting and Rent Concessions

7th September 2020

In May 2020, the International Accounting Standards Board (IASB) issued Covid-19-Related Rent...

MGI World Cropped screen shot of Amit Chopra's success story

Members establish new international business connections in the face of the COVID-19 pandemic with the help of MGI Worldwide with CPAAI

11th August 2020

Establishing new international business connections during this year's pandemic has been...