Singapore Budget 2023 Bulletin

Singapore Budget 2023 was delivered by the Deputy Prime Minister and Minister for Finance, Mr Lawrence Wong, on 14 February 2023. Whilst the Budget proposes many measures to address social issues such as the high cost of living, low fertility rate, ageing population etc., it is also packed with tax changes to support businesses to innovate, maintain competitiveness and thrive. Continuing the Government’s effort to make the Singapore tax system more progressive, higher stamp duty and vehicular tax will be imposed on high-end property and luxury cars with immediate effect.

This Bulletin highlights the key tax changes which impact businesses and individuals.