Singapore Budget Conversations 2022

Singapore Budget Conversations 2022

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Tune in to MONEY FM 89.3 as we discuss and analyse this year's budget on the issues that matter most to you.

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Join us on MONEY FM 89.3 FACEBOOK LIVE with Ms Indranee Rajah, Minister in the Prime Minister’s Office and Second Minister for Finance & National Development and our panel of experts as they weigh in on important points, key takeaways and what Budget 2022 means for you.


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Guest panellists:
ALVIN LIEW
Senior Economist
UOB

Alvin joined the UOB Global Economics and Markets Research team in 2011 and is responsible for providing research and analysis on developed economies, specifically the United States and Japan. He frequently shares his views on macroeconomic trends and developments through local and international print and broadcast media. Alvin has been working in the banking industry since 2000 and has experience both in the public and private sectors. He graduated with a Bachelor of Social Science (Honours) in Economics from the National University of Singapore.

AJAY KUMAR SANGANERIA
Partner, Head of Tax
KPMG in Singapore

Ajay is the Head of Tax at KPMG in Singapore, and has over 20 years of professional experience with more than 15 years in Singapore. Ajay specialises in Corporate and International Tax consulting and compliance. He has used his expertise to help many clients in industries to maximise value and achieve tax efficiency in their cross-border investments as well as supply chains and intellectual property structuring to align tax, legal and operating models during business transformation. Ajay maintains a close working relationship with Government agencies including EDB, A*star, Enterprise Singapore amongst others and helps companies to tap on various schemes administered by these agencies to support companies in Singapore. He has extensive experience in dealing with tax authorities with regards to resolving tax issues and obtaining advance rulings for upfront certainty on tax issues.

Member of the public can continue to submit their views on Budget 2022 through these feedback channels: Singapore Budget Website; REACH Budget Website; REACH Singapore Facebook and REACH Singapore Instagram.

Listen To The Podcasts from Budget 2022 Discussions

Budget Review 2022: KPMG proposes Budget 2022 to build lasting companies and societies on a fragile planet with an economic sunrise on the horizon (Part 1)

17 February 2022
According to KPMG as the post-pandemic world starts to emerge, Budget 2022 will provide opportunities to spur growth and expansion. To give his analysis on some of the key elements to look out for in the Budget, Prime Time’s Rachel Kelly, Shehzad Haque and Finance Presenter JP Ong speak to See Wei Hwa, Partner, Tax, KPMG Singapore.

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Budget Day 2022 – What can we expect


18 February 2022
Mr Lawrence Wong will put on a different hat as Finance Minister as he delivers his first Budget statement, one which is expected to include measures to put Singapore on a surer footing for the post-Covid-19 future. Vikram Khanna, Associate Editor, The Straits Times shares what we can expect from Budget 2022 and how Budget 2022 will give Singaporeans 'confidence' to embrace our journey forward.

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Budget Review 2022: KPMG proposes Budget 2022 to build lasting companies and societies on a fragile planet with an economic sunrise on the horizon (Part 2)

18 February 2022
As Singapore prepares for new international tax rules, there is room to consider how fiscal tools should be introduced to attract and anchor businesses here, while at the same time scope out the effectiveness of current and future tax incentives. Mark Addy, Partner, Energy & Natural Resources, Telecommunications, Media & Technology, Tax, KPMG in Singapore shares more about KPMG's proposition for Singapore's upcoming Budget 2022 and how we can seamlessly adapt to the changing tax landscape while creating jobs and increasing competitiveness.

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Recapping Budget 2022: GST hike & higher income tax for top earners

18 February 2022
Prime Time's Rachel Kelly and Finance Presenter JP Ong speak with Alvin Liew Senior Economist, UOB and Chiu Wu Hong, Partner, Head of Enterprise, Tax, KPMG Singapore about the key highlights from Budget 2022. Finance Minister Lawrence Wong announced major tax changes and targeted help for workers, households and businesses in his Budget speech earlier today.

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Budget 2022 Review

21 February 2022
The theme for Singapore Budget 2022 is “charting our way forward together” – pointing to a post-Covid-19 budget. And as with any budget announcement, there were key announcements that would impact Singaporeans and businesses here.  Harvey Koenig, Partner, Energy & Natural Resources, Telecommunications, Media & Technology, Tax, KPMG in Singapore, Alvin Liew, Senior Economist, UOB, Eugene Tan, Associate Professor of Law, Singapore Management University & Ang Yuit, Vice President, Association of Small and Medium Enterprises (ASME), join us on the show to help us break down Budget 2022 in detail.

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Budget Discussion 2022

23 February 2022
To wrap up the announcements and details of Singapore Budget 2022, Alvin Liew, Senior Economist, UOB joins us to discuss if the restructuring anxieties in Singapore felt by workers and firms have been adequately addressed and how Budget 2022 will set Singapore up for economic growth this year.

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Member of the public can continue to submit their views on Budget 2022 through these feedback channels: Singapore Budget Website; REACH Budget Website; REACH Singapore Facebook and REACH Singapore Instagram.

Tune in to MONEY FM 89.3 from 8.30am to 9am on weekdays for
Budget Review.

M&A in post Covid-19 Singapore

Singapore’s role as investment and finance hub in the Asia-Pacific region is also reflected in its important role in M&A transactions in the region.

Part 1
In this episode of Budget Preview 2022 by KPMG, Agnes Lo, Partner, Head of M&A, Tax, KPMG in Singapore shares with us the drivers behind Singapore's positive M&A outlook so far and if we can expect this to continue.

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Part 2
In this episode of Budget Preview 2022 by KPMG, Benjamin Ong, Partner, Head of Corporate Finance, Deal Advisory, KPMG in Singapore shares the key trends he has been seeing for M&A in the market today.

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Part 3
In this episode of Budget Preview 2022 by KPMG, Agnes Lo, Partner, Head of M&A, Tax, KPMG in Singapore gives us her views on what are some of the aspects of M&As that may be affected by changes in tax.

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Part 4
In this episode of Budget Preview 2022 by KPMG, Benjamin Ong, Partner, Head of Corporate Finance, Deal Advisory, KPMG in Singapore gives his advice to companies and investors looking to capitalise on SPACs.

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Part 5
In this episode of Budget Preview 2022 by KPMG, Agnes Lo, Partner, Head of M&A, Tax, KPMG in Singapore gives tax advice to corporates looking to structure deals for the best returns.

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Building a Sustainable Singapore

Sustainability over the last few years has been one of the key components of Singapore’s Budget statements. 

Part 1
In this episode of Budget Preview 2022 by KPMG, Sharad Somani, Partner, Head of Infrastructure Advisory, KPMG in Singapore gives his take on the importance of ensuring investments that go into infrastructure projects in Singapore are sustainable and future-resilient.

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Part 2
In this episode of Budget Preview 2022 by KPMG, Mark Addy, Tax Partner, Energy & Natural Resources, KPMG in Singapore shares his view on how Singapore can differentiate itself through its tax policies in the ESG front.

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Part 3
In this episode of Budget Preview 2022 by KPMG, Sharad Somani, Partner, Head of Infrastructure Advisory, KPMG in Singapore shares how we can empower businesses in Singapore to capture green growth opportunities in sustainable infrastructure and clean energy.

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Part 4
In this episode of Budget Preview 2022 by KPMG, Mark Addy, Tax Partner, Energy & Natural Resources, KPMG in Singapore shares his tax advice on what business leaders should bear in mind as they journey with Singapore towards an energy efficient, low carbon economy.

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Part 5
In this episode of Budget Preview 2022 by KPMG, Sharad Somani, Partner, Head of Infrastructure Advisory, KPMG in Singapore shares his views on some of the priorities Singapore should have as it aims to establish itself as Asia’s ESG hub.

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Singapore as a Tech Innovation Hub

Singapore over the last few years has been a magnet for visionaries and businesses looking for an innovation hub in Asia Pacific.

Part 1
In this episode of Budget Preview 2022 by KPMG, Ling Su Min, Partner, Head of Clients, Markets & Innovation, KPMG in Singapore shares her views on how Singapore can differentiate itself to remain attractive and competitive as a technology innovation hub.

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Part 2
In this episode of Budget Preview 2022 by KPMG, Harvey Koenig, Partner, Telecommunications, Media & Technology, Tax, KPMG in Singapore shares how tax can play a part in Singapore’s 5G ambition, in tandem with the country’s reputation as a technology innovation hub.

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Part 3
In this episode of Budget Preview 2022 by KPMG, Ling Su Min, Partner, Head of Clients, Markets & Innovation, KPMG in Singapore gives her advice to businesses who want to transform and innovate.

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Part 4
In this episode of Budget Preview 2022 by KPMG, Harvey Koenig, Partner, Telecommunications, Media & Technology, Tax, KPMG in Singapore gives his tax advice on what business leaders should bear in mind if they are looking to innovate and digitalise as part of their growth plans.

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Part 5
In this episode of Budget Preview 2022 by KPMG, Ling Su Min, Partner, Head of Clients, Markets & Innovation, KPMG in Singapore gives her take on what should be the priorities of countries looking to establish themselves as technology innovation hubs, looking ahead to the next 10 years.

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Talent in Singapore

Building Singapore’s talent pool has always been one of the main highlights of our previous Budgets.

Part 1
In this episode of Budget Preview 2022 by KPMG, Janice Foo, Head of People at KPMG in Singapore gives us her views on what businesses here can do to build and grow a diverse, future-ready workforce.

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Part 2
In this episode of Budget Preview 2022 by KPMG, Anna Low, Partner, Personal Tax & Global Mobility Services, KPMG in Singapore gives tax advice to business leaders who might be turning to remote work to address the need for talent.

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Part 3
In this episode of Budget Preview 2022 by KPMG, Janice Foo, Head of People at KPMG in Singapore gives us her thoughts on strategies employers should consider as they engage their people in the future of work.

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Part 4
In this episode of Budget Preview 2022 by KPMG, Anna Low, Partner, Personal Tax & Global Mobility Services, KPMG in Singapore gives her views on how recent tax developments would impact frequent business travel by employees and the hiring of talent in new markets.

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Part 5
In this episode of Budget Preview 2022 by KPMG, Janice Foo, Head of People at KPMG in Singapore shares with us her advice to business leaders looking to improve productivity in a hybrid work environment.

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Listen to what the experts have to say about Budget 2022

11 March: Hits and misses from Budget 2022 Debate

Started two weeks ago on February 28, today marks the last day that the Parliament sits to debate the Budget 2022 statement for the new financial year. PN Balji, Political Commentator & Veteran Journalist gives an analysis on the hits and misses from Budget 2022 Debate and some takeaways from the hottest topics that have been discussed and scrutinised over the last two weeks at the annual marathon debate.

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25 February: Influence: Budget 2022 – Who will higher property taxes hurt? Will the GST impact those shopping for homes in future?

Nicholas Mak, Head of Research & Consultancy, ERA Real Estate and Michelle Martin discuss the property tax rate hikes for both owner-occupied and non-owner-occupied residential properties announced in this year’s Budget.

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24 February: Mind Your Business: Was the tourism and entertainment sectors forgotten at Budget 2022?

As we enter year 3 of the Covid-19 pandemic, the tourism and entertainment sectors in Singapore are still struggling and the light at the end of the tunnel remains elusive. Budget 2022 saw additional support to some sectors for this year but it seems like nothing much was said for the tourism and entertainment sectors here. Dr Kevin Cheong, Chairman, Association of Singapore Attractions shares some of the challenges that the attractions/tourism scene is still facing right now and to what extent has the SingapoRediscover Vouchers helped cushion the impact of Covid-19 on the attraction scene here.

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24 February: Why It Matters: Key takeaways for employers and HR leaders from Budget 2022

Budget 2022, themed "Charting our new way forward together" made a few announcements regarding support and changes for our workforce scene. And it includes a S$500 million package to support jobs and businesses and adjustments to minimum qualifying salaries for Employment Pass and S-Pass holders. Jaya Dass, Managing Director of Singapore and Malaysia, Randstad shares some of the key takeaways businesses should take note of post Budget 2022 and what other gaps he thinks still need attention in Singapore’s workforce.

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23 February: Sustainable Singapore: Reactions to Budget 2022 & how business and sustainability overlap

The carbon tax rate in Singapore will be increased from the current $5 per tonne of emissions to between $50 and $80 by 2030, a move that will help the nation reach new, more ambitious climate goals.
Finance Minister Lawrence Wong said in his Budget speech that the aim is for emissions to dwindle to net zero by or around 2050,
On Sustainable Singapore, hosts Shehzad Haque and Melissa Hyak spoke to Som Shantanu, Regional Engineering Director of GE Gas Power on what the carbon tax price increase means for the energy market in Singapore.

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23 February: Influence: Budget 2022 – Understanding Singapore’s carbon tax hike

Singapore will raise the carbon tax rate from the current $5 per tonne of emissions to between $50 and $80 by 2030, in a move that will help the Republic reach new, more ambitious climate goals. Mark Addy, Partner, Energy & Natural Resources, Tax, KPMG in Singapore and Michelle Martin discuss what this means for households ,businesses and Singapore's green strategy.

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23 February: Why It Matters: Sustainability and carbon taxes in Singapore

As announced at Budget 2022, Singapore is bringing forward its net-zero timeline "by or around mid-century", as part of the green initiatives. The biggest highlight was probably carbon taxes that were introduced in 2019 at S$5 per tonne of emissions and will be raised to S$25 per tonne in 2024 and 2025. Wong Wai Meng, SGTech Chair & CEO, Keppel Data Centres shares how this new carbon tax increase will impact businesses and what are Keppel Data's plans to hopefully not feel the impact from this increase.

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22 February: In The Spotlight: Balancing Budget 2022 to uplift low wage workers

In The Spotlight, Prime Time’s Rachel Kelly spoke to Dr Gillian Koh, Deputy Director of the Institute of Policy Studies at NUS about her thoughts on Budget 2022 and what the measures mean for consumers and households, as well as balancing the Budget to uplift low-wage workers.

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22 February: Powering Your Property: Budget 2022 - The impact of property tax changes on homeowners

On Powering Your Property, Prime Time’s Rachel Kelly spoke to Ismail Gafoor, CEO, Propnex to discuss the impact of the property tax changes announced in Budget 2022 on the real estate sector. Announced during Budget 2022 last Friday, property taxes rates for both owner-occupied and non-owner-occupied residential properties will go up in 2 steps starting from 2023. This comes in the wake of a fresh round of cooling measures in December last year.

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22 February: Influence: Budget 2022 – Analysing changes to Singapore’s tax system

Michelle Martin and Yeo Kai Eng, Asean Indirect Tax Leader, Ernst & Young Solutions take a closer look at the suite of major changes to Singapore's tax system, recently announced in the Budget 2022 speech by Finance Minister Lawrence Wong.

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22 February: Bigger Picture: Sectors to watch post-Budget 2022

Timothy Ho, Managing Editor & Co-Founder, Dollars and Sense discusses what will be the sectors and stocks to keep an eye on, that will likely be impacted by the latest policies announced in Singapore's Budget 2022.

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22 February: Why It Matters: Singapore to invest in future technologies such as 6G

At his Budget 2022 announcement, Finance Minister Lawrence Wong said that Singapore will upgrade its broadband infrastructure, with the view of increasing broadband access speeds by about 10 times over the next few years. Han Chon, Managing Director, ASEAN, Nutanix shares why there is a huge importance to move even faster when it comes to upgrading our future technologies and how Singaporean businesses can invest strategically in innovation, agility and business transformation for the long-run.

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22 February: Mind Your Business: How can companies tap into the digitalisation announcements made at Budget 2022

Speaking at Budget 2022,  Finance Minister Lawrence Wong also adds that Singapore has a “window of opportunity” over the next few years to establish leading positions in key market segments. The first priority, he said, is to “strengthen” Singapore’s digital capabilities. Nicholas Lee, SGTech Councillor, and First Vice Chair of SGTech’s Digital Transformation Chapter & CEO, EZ-Link shares the kind of gaps the tech industry is facing now and how the additional S$200 million that the government is setting aside can help close that gap.

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21 February: In The Spotlight: Businesses' reaction to Budget 2022

In The Spotlight, Prime Time’s Rachel Kelly and Shehzad Haque spoke to Lam Yi Young, CEO, Singapore Business Federation to find out his thoughts on some of the business focused initiatives from this year’s Budget announced by Finance Minister Lawrence Wong.

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21 February: Market View: Reviewing Singapore’s Budget and Fiscal Goals

In Market View, Finance Presenter JP Ong spoke to Darren Tay, Country Risk Analyst, Fitch Solutions about his thoughts on Budget 2022 and what it means for Singapore's economy moving forward.

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21 February: Influence: Budget 2022 - Highlights and impact on Singaporeans

Michelle Martin invites Barnabas Gan, Economist, UOB to break down the key announcements delivered during Finance Minister Lawrence Wong's budget speech last week.

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16 February: Why It Matters: Budget 2022 Carbon tax review - Potential implications on businesses in Singapore

According to a recent study by ENGIE Impact on Net Zero Corporate Readiness, it was found that half of APAC companies disagree that they have mechanisms to integrate carbon in investment and business decisions. 90 percent lack confidence that business units and individuals are being incentivized to decarbonize. Amandeep Bedi, Director, Sustainability Solutions, ENGIE Impact shares how this is causing a lack of confidence that business units and individuals are being incentivized to decarbonize and what he's hoping to see happen and change when it comes to SG's carbon tax review in the upcoming budget

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15 February: Why It Matters: Budget 2022 - Protecting the livelihood of SEPs and women in Singapore

As we transit to the endemic phase after the last two years of fighting Covid-19, livelihoods remain the core concern of workers. For over six decades, NTUC’s focus has always been on our workers, especially the vulnerable workers and their role is more important than ever now as we progressively recover from the pandemic. Yeo Wan Ling, Director of U SME and U Women and Family, NTUC shares the three key areas NTUC has seen that needs urgent attention and their plans to ensure SEPs in Singapore get better timely support from platforms .

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9 February: Eco Money: Business Sustainability wishlist for Budget 2022

The Singapore Budget is just over one week away, and a key theme this year is sustainability.
Industry leaders have said that the upcoming national Budget should offer businesses grants and other support to promote environmental, social, and governance issues.
In Eco Money, Prime Time's Rachel Kelly spoke to Associate Professor Lawrence Loh Director, Centre for Governance and Sustainability at NUS Business School to find out what’s on the Budget wishlist of the business and investment community when it comes to ESG.

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8 February: Mind Your Business: Budget 2022 - Recommendations for a vibrant and sustainable startup ecosystem in Singapore

Action Community for Entrepreneurship (ACE) has recently published a position paper that identifies current hurdles, pinpoints new opportunities, and proposes actionable strategies to help further Singapore’s startup ecosystem. The position paper has also been officially presented to the Singapore government before our Budget 2022 statement on February 18. James Tan, Chairman of the Board of Directors, Action Community for Entrepreneurship (ACE) shares how SG punched way above its weight in the global arena as a hub for startup hopefuls and what the three key areas that ACE believe can be the catalyst for positive and widespread economic change entails.

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7 February: SGExtra: What to look out for in Budget 2022

Minister for Finance Lawrence Wong is set to deliver his first Singapore Budget 2022 statement on February 18th in Parliament at 3.30pm. For what to look out for in the speech, Prime Time's Rachel Kelly and Shehzad Haque speak to Zakir Hussain, Singapore Editor at The Straits Times who gives a preview.

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11 January: Why It Matters: Budget 2022 - Deloitte calls for tax measures to enable businesses to adapt to the changing business landscape

The 2022 Budget Statement will be delivered in Parliament on February 18 by Finance Minister Lawrence Wong. Among the issues that could feature at the Budget will be whether the government will review the country’s system of wealth taxes, as well as details on the revised carbon tax rate for 2024. Shantini Ramachandra, Tax Partner, Deloitte Singapore shares the global market trends that will shape this year's budget and how their proposal of tax measures will help businesses adapt to the changing business landscape.

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Member of the public can continue to submit their views on Budget 2022 through these feedback channels: Singapore Budget Website; REACH Budget Website; REACH Singapore Facebook and REACH Singapore Instagram.

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