Singapore

February 28, 2023

Singapore extends investment promotion tax incentives; raises quantum for Global Investor Programme

SINGAPORE is extending several investment promotion tax incentives for another five years, even as it prepares to implement global tax rule changes. But separately, individuals will need to invest more to become permanent residents (PRs) under the Global Investor Programme (GIP). The Pioneer Certificate, Development and Expansion Incentive, and Investment Allowance tax incentives will all […]

February 28, 2023

Singapore: Condo resale prices dip 0.6% in January for first time in over 2 years

SINGAPORE – Prices of resale condominium units in January dipped for the first time in more than two years, as fewer units changed hands during the Chinese New Year seasonal lull period. Overall condo resale prices fell by 0.6 per cent compared with December, when prices rose 0.7 per cent, according to flash figures from real estate […]

February 27, 2023

Singapore services receipts growth slows to 10.9% in Q4 2022

SINGAPORE’S services industries recorded a 10.9 per cent year-on-year rise in business receipts in the final quarter of 2022, easing from the revised 15.9 per cent growth rate in Q3, data from the Department of Statistics (Singstat) indicated on Monday (Feb 27). On a non-seasonally adjusted quarterly basis, business receipts were up 2.9 per cent […]

February 27, 2023

Singapore: Condo resale prices fall for the first time in over two years; transactions dip 22.6% in January: SRX, 99.co

RESALE prices of private condominiums dropped for the first time in 28 months, as prices slipped in the city fringe and suburban areas, and dragged on overall prices in January. Flash estimates from SRX and 99.co on Monday (Feb 27) showed that overall condo resale prices in January dipped 0.6 per cent month on month. […]

February 24, 2023

Singapore has no ‘fiscal slack’ but must be careful with corporate tax moves: Lawrence Wong

SINGAPORE has a tight fiscal position over the medium-term, said Finance Minister Lawrence Wong, as he noted the limitations of alternative revenue sources — particularly corporate taxes — that Members of Parliament (MPs) had raised earlier in the Budget debate. Budget 2023 is a “delicate balancing act”, said Wong in his round-up speech on Friday […]

February 24, 2023

Singapore factory output for fourth straight month; falls 2.7% in Jan, surprising estimates

SINGAPORE’S industrial production fell for the fourth consecutive month in January, dropping by 2.7 per cent on the year and deepening from December 2022’s revised 2.6 per cent fall. This came as the key electronics sector reversed from the previous month’s rebound, Economic Development Board (EDB) data showed on Friday (Feb 24). January’s performance was […]

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