Singapore Budget 2012

With the Singapore Budget announcement just around the corner, I thought I’d share with you SICC’s work in gathering feedback and putting together our recommendations for the Singapore Budget.

SICC’s Budget Wish List Proposal is a key project undertaken by the Tax Committee each year, where the committee compiles a list of tax-related proposals and comments from members that SICC would want the Ministry of Finance (MOF) to consider for the Budget. Led by our Chairman Mr Shanker Iyer, the committee is made up of people from a wide range of industries, who have been working in this area with the Chamber for several years.

At this time of economic uncertainty, some challenges our members face include rising business costs and maintaining or increasing productivity. The key issue for Singapore now is to remain competitive and continue to add value to companies that are doing serious business here.

Following the submission of our Budget Wish List, the Chamber has been in extensive discussions with MOF to explain in detail the issues highlighted in the wish list. SICC has also been involved in a series of MOF-organized feedback sessions with the other chambers and industry leaders. Through these ongoing meetings, we feel that the Ministry is very interested to understand how companies are impacted by government policies and how Singapore’s competitiveness could be improved.

Shortly after the Budget announcement, SICC will be conducting an online survey among members to gather your views on the Budget, your business performance in 2011 and outlook for 2012. We hope you’ll participate in this survey.

You should have received our circular on SICC’s annual post-Budget Briefing on 14 March 2011. Please join us at this breakfast session where Mr Shanker Iyer will discuss in detail the tax changes announced in Budget 2012 and its possible impact and implications for you and your business.

Ms Selena Ling, Head of Treasury Research & Strategy at OCBC Bank, will also be present to share her views on the state of the economy.

In addition, these experts will be sharing their thoughts on the findings of the post-Budget survey that will be revealed during the session.

More details on the event are available here

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