20 Feb 2018
The Institute will also be releasing our Budget Update on some key areas of the Budget with implications on businesses in the March issue of the IS Chartered Accountant Journal. Check back here at a later date or download the ISCA Journal App to be alerted once the March Issue is released.
Compiled below are the Budget 2018 commentaries from the Big Four firms - Deloitte, EY, KPMG and PwC:
Budget 2018 is, to adapt from a colloquial phrase, “same same, but remarkable” – it is similar to previous Budgets in that the Government seeks to address multi-pronged challenges faced by the economy and society at large, but remarkable in that taxpayers are given ample time to understand and adjust to changes that will be only be implemented several years down the road. – Deloitte Singapore
Singapore's 2018 Budget focuses on laying down a strategic and integrated plan to position Singapore for the future. The Budget seeks to prepare the nation to guard against challenges and capture opportunities through developing Singapore into a more vibrant and innovative economy, building a smart, green and liveable city, fostering a caring and cohesive society and planning ahead for a fiscally sustainable and secure future. How will the proposed Budget measures transform the economy into a forward-looking one and help the nation achieve sustainable growth? How will business be impacted by the policies? For more in-depth insights into the Budget proposals by EY tax practitioners, click on the image above. - EY
Singapore has already been preparing for the three major shifts: rise of Asia, emerging technologies, and ageing population. Budget 2018 takes a significant step forward by setting a targeted strategy for the next decade, especially for businesses to move away from cost competition and differentiate via innovation. - KPMG
Budget 2018 is about building the future of Singapore from a position of strength. Just as the past Budgets have laid the foundation for today’s success, Finance Minister Heng Swee Keat has set the wheels in motion to prepare Singapore for challenges of the next decade and beyond. This year’s Budget is expansive yet targeted to transform the economy through encouraging technology and innovation while capitalising on Asia’s expanding economic influence and Singapore’s position as a key business hub. -PwC
*reproduced with permission
The ISCA Pre-Budget Roundtable 2018 held on 9 Jan 2018 was centred on the theme ‘Partnering for Business Growth and Job Creation’. A distinguished panel of industry leaders gathered together to discuss issues on the Industry Transformation Maps (ITMs), the Digital Economy and Business Competitiveness, Jobs and Skills, Internationalisation and Innovation.
Here is the full write-up of the ISCA Pre-Budget Roundtable 2018 in the February IS Chartered Accountant Journal.
Share this Page