Staying afloat in the wake of a financial tsunami
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The work Staying afloat in the wake of a financial tsunami represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.
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Staying afloat in the wake of a financial tsunami
Resource Information
The work Staying afloat in the wake of a financial tsunami represents a distinct intellectual or artistic creation found in International Bureau of Fiscal Documentation. This resource is a combination of several types including: Work, Language Material, Continuing Resources.
- Label
- Staying afloat in the wake of a financial tsunami
- Language
- eng
- Summary
- Singapore is facing the most challenging period since her independence in 1965. As a country heavily relying on exports, the Ministry of Trade and Industry has forecasted that Singapore's GDP growth in 2009 will be between -5.0 percent to -2.0 percent, which would represent the worst economic performance in its history. The unusual 2009 Budget, which was delivered by Minister for Finance, Mr Tharman Shanmugaratnam, in Parliament on 22 January 2009, was described as a Resilience Package worth some S$20.5 billion. This article highlights some of the more important Budget initiatives and assesses their impact on the Singapore business landscape, including reduction in corporate income tax rate, enhancement of loss carry-back relief scheme, expansion of foreign-sourced income exemption, enhancement of capital allowance scheme, facilitation of corporate amalgamations, enhancement of financial sector incentives, property tax measures, extension of scope for GST zero-rating for maintenance, repair and overhaul industry, accellerated writing-down allowances for acquisition of intellectual property rights for media and digital entertainment, exemption and suspension of duty and GST for activities in connection with exhibitions, auctions and conferences, extension and enhancement of withholding tax exemption for maritime industry, and enhancement of start-up exemption scheme
- Citation source
- In: Tax planning international review. - London. - Vol. 36 (2009),
- Geographic coverage
- Asia
- Language note
- English
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<div class="citation" vocab="http://schema.org/"><i class="fa fa-external-link-square fa-fw"></i> Data from <span resource="http://link.library.ibfd.org/resource/TtsDSOwleZI/" typeof="CreativeWork http://bibfra.me/vocab/lite/Work"><span property="name http://bibfra.me/vocab/lite/label"><a href="http://link.library.ibfd.org/resource/TtsDSOwleZI/">Staying afloat in the wake of a financial tsunami</a></span> - <span property="potentialAction" typeOf="OrganizeAction"><span property="agent" typeof="LibrarySystem http://library.link/vocab/LibrarySystem" resource="http://link.library.ibfd.org/"><span property="name http://bibfra.me/vocab/lite/label"><a property="url" href="https://link.library.ibfd.org/">International Bureau of Fiscal Documentation</a></span></span></span></span></div>
