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About The Budget Process
The Singapore Budget is prepared for each financial year, which begins on 1 April of every calendar year and ends on 31 March of the next calendar year. The Budget includes the revised government revenue and expenditure projections for the current financial year, as well as the planned government revenue and expenditure in the coming financial year.
The Budget Feedback Process
Before drawing up the Budget, Minister for Finance MOF starts its public consultation process in November to gather feedback for the next financial year’s Budget. The feedback process generally lasts for about two months, and all views and suggestions submitted during the feedback period are taken into account in the design of the Budget. After which, the Budget is presented to the Cabinet for approval.
Singapore Budget 2011 – Important Tax Changes Reminder
In the Singapore 2010 Budget, the Government introduced a five-year broad-based PIC scheme to provide significant enhanced tax deductions or allowances to all businesses Continue reading →