On 18 February 2022, the Minister of Finance Lawrence Wong presented his Budget Speech 2021/2022 with the overarching theme of ‘Charting Our New Way Forward Together.’
Key highlights of the budget include both residential property and personal income tax rate increments. GST will also be increased to 9% in a phased manner from 2023 onwards. On the climate front, Singapore will raise carbon tax progressively from 2024 onwards, with a net zero emissions target by 2029.
Please see below for highlights from Singapore’s Budget 2022 or download here.