Grant Thornton's Singapore Budget 2022 commentary

Our observations and analysis

Following the Singapore Budget 2022 announcement by Minister for Finance Mr Lawrence Wong on 18 February, our tax specialists share their observations and provide analysis on the impact of the Budget.

The commentary details key tax changes in the areas of:

  • BEPS 2.0 and the possible minimum effective tax rate
  • Funds incentive enhancement
  • GST increase
  • Wealth-related taxes
  • Personal income tax & immigration-related changes
  • Carbon tax
  • Lapses, refinements & others

Grant Thornton’s Singapore Budget 2022 and Beyond webinar

Webinar recording

In the webinar, our tax specialists discuss the changes announced in the 2022 Budget, sharing insights on the updates that businesses should know about.

The webinar covers:

  • What has happened since Budget 2021
  • A breakdown of the key changes announced in Budget 2022 
  • How these changes could impact your business
  • What you should do next to tap on opportunities or manage your risk

Budget 2022 quotes and reactions

Our specialists have provided some reactionary comments and insights on the GST hike, the wealth-related taxes, the minimum effective tax rate, and more.

Budget alerts

Join our mailing list to keep yourself updated on the latest Budget highlights and be alerted when we release our post-Budget commentary.

Grant Thornton's pre-budget feedback and recommendations

This document highlights the feedback and proposals that Grant Thornton has submitted to the Ministry of Finance (MOF) for consideration prior to the 2022 Singapore Budget and beyond.

The suggestions fall into four broad themes:

  1. Strengthening Singapore’s position as a competitive business hub
  2. Building an inclusive and sustainable Singapore
  3. Supporting Covid-19 recovery
  4. Simplifying and enhancing our tax system.

The feedback includes ways to tax wealth through property and responding to the global minimum corporate tax.