Singapore Budget 2021
As the Singaporean economy shrank by 5.4% in 2020, the following will come into effect for the Financial Year 1 April 2021 to 31 March 2022.
- The COVID-19 Resilience Package (SGD 11,000) to support the economy re-opening. It includes measures related to fight COVID-19, support for workers and businesses and support for specific businesses such as Aviation and Tourism.
- Regrow the economy stronger by investing in workforce skills and innovation-led businesses.
- Reenforce the society and community: Assistance for the needy and support for the charity and volunteerism sector.
- The Singapore Green Plan 2030: Measures to tackle climate change and reenforce sustainability. Investment in technology (SGD 60 million in agri-food sector and SGD 30 million in electric vehicle initiatives) and promoting Green Finance (SGD 19 million public sector projects identified).
- Online Shopping: GST extended to imported low-value goods from Jan 1, 2023. This measure will implement a fair competitive environment between local businesses and overseas counterparts.
Photo: Marina Bay Sands, Singapore
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