Assoc Prof Jamus Jerome Lim asked the Deputy Prime Minister and Minister for Finance in view of the distinct investment and development mandates for the two national sovereign wealth funds, whether the Ministry issues guidelines to each on acceptable limits for exposure to different asset classes, including alternative assets, such as cryptocurrency and cryptocurrency exchanges. Mr LawrenceContinue reading “GUIDELINES ON LIMITS FOR EXPOSURE TO DIFFERENT ASSET CLASSES FOR NATIONAL SOVEREIGN WEALTH FUNDS”
Category Archives: Ministry of Finance
APPLICABILITY OF GST OFFSET PACKAGES TO SINGAPOREANS EMPLOYED OVERSEAS WITH NO REPORTABLE TAX RETURNS
Assoc Prof Jamus Jerome Lim asked the Deputy Prime Minister and Minister for Finance whether the GST offset packages apply to Singaporeans employed overseas with no reportable tax returns. Mr Lawrence Wong: The Assurance Package (AP) for GST and the permanent GST Voucher (GSTV) scheme are meant to offset Singaporeans’ GST expenses incurred in Singapore. To qualify forContinue reading “APPLICABILITY OF GST OFFSET PACKAGES TO SINGAPOREANS EMPLOYED OVERSEAS WITH NO REPORTABLE TAX RETURNS”
GST PAID BY FOREIGNERS RESIDING IN SINGAPORE, TOURISTS AND TOP 20% OF HOUSEHOLDS, AND GST REFUNDS DISBURSED TO TOURISTS
11 Assoc Prof Jamus Jerome Lim asked the Deputy Prime Minister and Minister for Finance of the estimated more than 60% of net GST that is accounted for by foreigners residing in Singapore, tourists, and the top 20% of resident households, what is the share paid by each group. 12 Assoc Prof Jamus Jerome Lim asked the Deputy Prime MinisterContinue reading “GST PAID BY FOREIGNERS RESIDING IN SINGAPORE, TOURISTS AND TOP 20% OF HOUSEHOLDS, AND GST REFUNDS DISBURSED TO TOURISTS”
DECARBONISING GOVERNMENT’S INVESTMENT HOLDINGS AND REDUCING GOVERNMENT’S EXPOSURE TO CLIMATE-RELATED FINANCIAL RISKS
Ms He Ting Ru asked the Deputy Prime Minister and Minister for Finance in the wake of the European Central Bank’s latest announcements of measures to decarbonise its corporate bond holdings and to reduce exposure to climate-related financial risks, whether there will be similar moves to be made by MAS and Government’s investment entities to do theContinue reading “DECARBONISING GOVERNMENT’S INVESTMENT HOLDINGS AND REDUCING GOVERNMENT’S EXPOSURE TO CLIMATE-RELATED FINANCIAL RISKS”
SUSTAINABILITY CRITERIA APPLIED TO INFRASTRUCTURE PROJECTS UNDER SINGAPORE GREEN BOND FRAMEWORK
Ms He Ting Ru asked the Deputy Prime Minister and Minister for Finance with regard to the first issue under the Singapore Green Bond Framework (a) how will concerns be addressed about using proceeds to fund expenditures of the Cross Island Line, given the environmental issues raised about the construction of the line; and (b) what areContinue reading “SUSTAINABILITY CRITERIA APPLIED TO INFRASTRUCTURE PROJECTS UNDER SINGAPORE GREEN BOND FRAMEWORK”
TAX TREATMENT OF FULL-TIME NATIONAL SERVICEMAN ALLOWANCES
Mr Leon Perera asked the Deputy Prime Minister and Minister for Finance (a) what is the number of full-time National Servicemen (NSF) whose parents qualify for tax relief stemming from child caretaking duties, such as the Qualifying Child Relief (QCR) or Working Mother Child Relief (WMCR) in the past five years; (b) what is the rationale behindContinue reading “TAX TREATMENT OF FULL-TIME NATIONAL SERVICEMAN ALLOWANCES”
ANNUAL SUBVENTION GRANT TO TOWN COUNCILS WITH RAISING OF GST IN 2023 AND 2024
Mr Chua Kheng Wee Louis asked the Deputy Prime Minister and Minister for Finance whether Town Councils will be provided with increased annual GST subvention grant when GST is raised in 2023 and 2024. Mr Lawrence Wong: The Government will provide funding to Town Councils to absorb the additional GST payable on Service and Conservancy Charges. This wasContinue reading “ANNUAL SUBVENTION GRANT TO TOWN COUNCILS WITH RAISING OF GST IN 2023 AND 2024”
PROPOSAL TO DEFER GST INCREASE GIVEN INCREASED TAX COLLECTION IN FY2021/2022 AND BELOW-INFLATION INCOME GROWTH
Assoc Prof Jamus Jerome Lim asked the Deputy Prime Minister and Minister for Finance in light of the recent study by DBS which found that income growth has not kept pace with inflation, and the sharp increase in tax receipts for the past financial year, whether the Ministry has considered (i) postponing the need to raise GSTContinue reading “PROPOSAL TO DEFER GST INCREASE GIVEN INCREASED TAX COLLECTION IN FY2021/2022 AND BELOW-INFLATION INCOME GROWTH”
OPERATING REVENUE, EXPENDITURES AND OVERALL SURPLUS OR DEFICIT OF CURRENT GOVERNMENT
Mr Chua Kheng Wee Louis asked the Deputy Prime Minister and Minister for Finance (a) what is the current Government’s FY2022 to-date operating revenue, operating expenditure, development expenditure and the primary surplus/deficit respectively; (b) how do these figures compare with the budgeted figures; and (c) how much is the overall FY2022 fiscal position expected to differ fromContinue reading “OPERATING REVENUE, EXPENDITURES AND OVERALL SURPLUS OR DEFICIT OF CURRENT GOVERNMENT”
STUDIES ON INTERGENERATIONAL INCOME MOBILITY IN SINGAPORE
Mr Leon Perera asked the Deputy Prime Minister and Minister for Finance following the Ministry’s 2012 and 2015 papers on Intergenerational Income Mobility in Singapore (a) whether similar studies have been carried out yielding data for recent years; (b) whether such studies will be expanded to include mobility in health, wealth and opportunities; and (c) whether thereContinue reading “STUDIES ON INTERGENERATIONAL INCOME MOBILITY IN SINGAPORE”
Office of the Leader of the Opposition 