No major tax changes but fiscal prudence reiterated

Singapore

SOME observers had hoped to see more tax reforms and benefits in this year's Budget, but were disappointed that these did not materialise.

However, others whom The Business Times (BT) spoke to, welcomed the more targeted plans shared by Deputy Prime Minister and Finance Minister Heng Swee Keat after last year's sizeable draw on the country's past reserves.

David Sandison, Grant Thornton Singapore's practice leader and head of tax, noted that there was little on taxes and public revenue preservation or recovery.

"We had hoped for some significant changes…

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