The Singapore 2017 Budget: Tax Updates
The 2017 Budget was delivered by the Minister for Finance Heng Swee Keat on 20 February 2017 against the backdrop of a transitioning Singapore economy. The Budget measures are aimed at rationalization, ensuring sustainability, and preparing Singapore for a changing world of digitalization and intellectual property (IP) creation and management from research and development (R&D) activities. Previous incentive measures that are no longer relevant have been dropped. New measures have been introduced to comply with Base Erosion and Profit Shifting (BEPS), consistent with Singapore being a BEPS Associate since 2016.