Here are 11 key themes which emerged.
1. Cushioning petrol duty hikes
As part of measures to shift towards a greener and sustainable Singapore for all generations, petrol duty rates will be raised by 15 cents per litre for premium petrol and 10 cents per litre for intermediate petrol.
The Government will set aside $113 million to provide rebates for petrol and petrol-hybrid vehicles, to ease the transition following the hike.
There will be a 15 per cent road tax rebate for owners of private cars for one year, and a 60 per cent rebate for those owning motorcycles. Owners of commercial vehicles will get a 100 per cent tax rebate for a year.
The Straits Times
Schemes enhanced to help firms go global and compete
Singapore s ultimate ambition is to help local enterprises spread their wings, says minister
Firms such as Old Chang Kee will also get support to develop solutions and compete globally. For example, access to new markets will be improved with the expansion of the Global Innovation Alliance network from 15 to 25 cities over the next five years. PHOTO: OLD CHANG KEE/FACEBOOK
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In the recent Budget 2021, DPM Heng Swee Keat talked extensively about innovation as a key economic driver for Singapore’s recovery from the pandemic in 2021 and beyond. Creating a vibrant business community will require innovation and disruption, lest they be caught out by the rapidly changing winds of technology and geopolitics.
Singapore’s recovery hinges on innovation because businesses provide not only goods and services but also jobs. If businesses can find unique and better solutions to existing problems in the country and the wider region, they stand a better chance at long-term growth and creating better jobs for their employees.
Home / 2021 / Singapore Budget 2021: Top 5 Things Business Owners Need To Know Singapore budget - 22/02/2021 Subscribe to free incorporation insights Considering moving or expanding your business to Singapore? Sign up to receive useful guides to help you make the right choices for you and your business. Subscribe now Singapore Budget 2021: Top 5 Things Business Owners Need To Know Singapore has experienced its worst recession since independence where the global battle against COVID-19 remains far from over.
The theme for the Budget 2021 was around Emerging Stronger Together, with measures to help families, workers and businesses weather the COVID-19 crisis in the immediate term, with measures to accelerate structural adaptations for the long term.