Singapore's Minister for Finance delivered, in Parliament, the Singapore Budget on February 19, for financial year April 1, 2018 to March 31, 2019 (Budget 2018). Budget 2018 sets forth a strategic and integrated plan to position Singapore for the future and prepare the nation to take on three major shifts in the coming decade: (i) the shift in global economic weight towards Asia; (ii) emergence of new technologies; and (iii) the aging population of Singapore. Specifically, Budget 2018 seeks to prepare Singapore to guard against the challenges and capture opportunities through developing the nation into a more vibrant and innovative economy, building a smart, green and livable city, fostering a caring and cohesive society and planning ahead for a fiscally sustainable and secure future. A number of tax changes were announced to provide near-term support to businesses, foster continuing innovation, encouraging capabilities building and forging of partnerships, all with the aim of developing a better future together for Singapore.

A Global Tax Alerts, attached below, provides additional details.

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