SG Resilience Budget 2020: “Stabilising Businesses”

March 27, 2020 By Benjamin Lim

As the COVID-19 outbreak emerged in December 2019, the Asian economy took a hit. Following this, In Feb 2020, Deputy Prime Minister and Finance Minister Heng Swee Keat delivered the Singapore Budget [Unity Budget] which consisted of a slew of measures to help Singapore curb the virus outbreak.

However, in a short span of time, COVID-19 has escalated worldwide and has been declared a pandemic. With worsened situations, the economy is expected to spiral downwards further in 2020. To prepare Singapore for unprecedented times, the Government has stepped up to provide additional support for all businesses and workers in 2020 by presenting a Resilience Budget, just 5 weeks after the Unity Budget was announced.

Businesses can now look forward to sustaining throughout the year by tapping into the measures shown in the following infographic:

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Benjamin Lim

Benjamin has over 20 years of tax experience, spending more than 13 years working for the Big 4 accounting firms and being an in-house tax advisor. Benjamin has also worked with SMEs, multinational corporations, and publicly-listed companies from diverse industries, offering tax advisory and planning, corporate restructuring, M&A, business model optimization, tax ruling requests, tax incentives application, tax risk mitigation, and tax reporting services on complex projects.