Weather: Meteorological Service Singapore    High & Low Tides

Yesterday     2004     2003     2002     2001     2000     1999

Building a Future of Opportunity - Ministry of Finance

 

Economy to grow 3.5-5.5% in 2004

Deputy Prime Minister and Minister for Finance Lee Hsien Loong reaffirmed the Government's commitment to maintain Singapore's competitiveness and create jobs when he presented the Budget for Financial Year 2004/05. He also spelt out the principles and key considerations behind Singapore's procreation policy.

The Government ran a $1.8 billion deficit in FY 2003 and expects a budget deficit of $1.35 billion in FY 2004, after taking into account the $826 million of tax savings for businesses and individuals in this Budget.

However, DPM Lee reaffirmed the Government's commitment to fiscal prudence and announced a target to balance the budget by FY 2005. In view of the tight fiscal position, he announced a permanent 2% cut in the budget allocations for all ministries, except the Ministry of Defence, for FY 2004.

Boost for businesses

The 2004 Budget includes a comprehensive package of measures to create a "best for business" environment that supports creativity and enterprise, and attracts talent and investments to Singapore.

A Competitive Tax Regime

The Government will lower the corporate tax rate to 20% from Year of Assessment (YA) 2005. It has deferred lowering personal income taxes, but remains committed to reducing the top personal tax rate to 20% as soon as budgetary conditions permit.

To boost private wealth management activities, all foreign-sourced income remitted by resident individuals will be exempt from tax. Singapore-sourced investment income derived by individuals from financial instruments will also be exempt from tax from YA 2005.

To continue to attract and root new activities in Singapore, the maximum duration for the pioneer incentive will be extended from 10 to 15 years, while the regional HQ incentive will be extended from 3 to 5 years.

More.....

 

 

 

NEW ARTS EVENTS IN TOWN

ExxonMobil Campus Concerts: NUS Hall Extravaganza  March 2004

Rhythms & Rhapsodies 2004 27 Feb - 14 Mar 2004

ExxonMobil Campus Concerts: February Dance Explorations

Dancing With Dragons!  1 - 7 Mar 2004

Prudential Children First! 2004  3 - 21 Mar 2004

If you have an event or some news to share with our readers, send the details, including picture(s), to us at editor@getforme.com 

NEW WEB SITES

Click New Web sites for the rest of the list.

We are now 6303 pages thick and growing.

Public Holidays GOOD FRIDAY is the next public holiday. It falls on 9 April 2004.

ABOUT THIS WEB SITE | ADVERTISING WITH US | LISTING WITH US

ePartners  | Press  |  eMail Us | Permissions | Content Contributors

Contact Getforme at help@getforme.com

Powered by

Copyright 1999 - 2004  All rights reserved

 

 
Friday
27 February 2004