Making Singapore future-ready

The Business Times
View From The Top
Published: 2nd March 2015

 
What are the biggest takeaways from the 2015 Singapore Budget for you as a business leader and a taxpayer?

ON the business front, the biggest takeaways for us are the capping of the corporate income tax rebate at S$20,000 instead of S$30,000, and the internationalisation scheme. Details on the latter will only be announced in May, which will be timely as PrimeStaff begins to embark on our expansion plans into the region. Aside from these, I wish to comment on how the Budget has been perceived by Singaporeans with growing expectation over the years – that it has to be good, it has to be allencompassing to meet each individual’s and each company’s needs, etc. If the Budget can get bigger and better each year, that is of course the best-case scenario.

However, what happens if the economy is not doing well and there is a particular year in which the Budget is not as pleasing due to the country’s financial constraints? My question is whether people would then criticise the government after years and years of enjoying the ”goodies”. Perhaps we ought to view it as ”bonuses” with gratitude instead of expectation.

Ronald Lee
Managing Director
PrimeStaff Management Services Pte Ltd

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