Trade ChakraTrade ChakraTrade Chakra
Trade Chkra
This article gives information on business cash flow in Singapore budget
Home:  Economy:  Singapore:  Business Cash Flow in Singapore Budget

Business Cash Flow in Singapore Budget

Cash flow is the term used to describe all the different elements of cash received and all payments made. This includes the processes that generate those flows. Business cash flow is not passive and needs managing, using information in the form of reports and taking proper action as a result of the information to successfully manage cash.
Property Tax Rebate for Industrial and Commercial Properties
The Government will provide a 40% property tax rebate for industrial and commercial properties for 2009. The Government strongly urges landlords to pass on the benefits of this rebate to their tenants.
Enhancements to Loss Carry-Back Scheme
To help businesses with their cash-flow, the loss carry-back relief system will be enhanced for Years of Assessment 2009 and 2010. The cap on losses that can be claimed against past taxable income is increased to $200,000 from $100,000. Businesses will also be allowed to claim losses against the taxable income of their preceding three Years of Assessment, instead of just the immediate preceding year as under the current scheme.
Tax exemption on Remittance of Foreign-Sourced Income
To enable businesses to make best use of all their sources of funds to meet their financing needs in Singapore during this time of credit tightness, the Government will temporarily expand the scope of the Foreign-Sourced Income Exemption scheme to cover all foreign-sourced income, and not just foreign-sourced dividends, branch profits and service income.
Further Extension of the Government Fee Freeze
The Government will extend the freeze on Government Fees and Charges to December 2009. This will include fees charged on all Government provided services, charges in public car parks, and all license fees.
Measures for Property Developers

Many developers are planning to hold back developments that they had originally planned. To support developers in doing so, the Government will introduce the following measures:

  • Defer property tax for commercial developers for land approved for development for up to two years. Land approved for development refers to land with a valid Provisional or Written Permission granted by the URA. The property tax deferral will take effect from 22 January 2009 or the date of Provisional or Written Permission, whichever is later. The deferral will lapse on 21 January 2011, or at Temporary Occupation Permit (TOP), or date of transfer of the land, whichever is the earliest.
  • Allow a one-year extension of the project completion period for private residential projects. This would give flexibility to developers to phase out their projects in the current uncertain market conditions.
  • Allow re-assignment of Government sale sites and private land owned by foreign housing developers for applications made by 22 January 2010.
  • Extend the period for developers to dispose of all residential units from two years to four years. Developers may also rent out unsold residential units for a maximum of four years to mitigate holding costs.

Recent Additions

Disclaimer : The content on Trade shows/Exhibitions/Conferences given on this site is informative in nature and has been gathered from various sources. We do not hold any responsibility of miscommunication or misinformation regarding the venue / date etc of the Trade show / Exhibitions/Conferences mentioned here. Kindly confirm the dates / venue etc of the Trade Fairs / Exhibitions/ Conferences from the relevant authorities for last minute changes.