Singapore's FY2025 Budget Statement was delivered by Prime Minister and Minister for Finance, Mr Lawrence Wong in Parliament on 18 February 2025. The Budget Speech outlines the government's plans for the year 2025 and the planned changes in the legal and tax environment.
On 26 February 2025, members of BLCC Singapore, SwissCham Singapore and Singaporean-German Chamber of Industry and Commerce / AHK Singapur had a good overview of the Budget as our 2 distinguished speakers from Luther Rechtsanwaltsgesellschaft mbH LLP presented an informative and insightful overview of the budget by summarizing the main legal and tax changes and how these changes may influence companies and resident individuals in the ongoing calendar year
David Martiny, Head of Tax South-East Asia at Luther Rechtsanwaltsgesellschaft mbH LLP, presented the key budget facts for FY2024 and FY2025, highlighting the key revenue collections and expenditures. In addition, he provided insights on corporate tax exemptions & rebates, Implementation of BEPS 2.0, extended and revised tax incentive schemes and taxation of capital gains on foreign assets.
Dr. Maximilian Kressner, Attorney-at-Law at Luther Rechtsanwaltsgesellschaft mbH LLP, presented the non-tax aspects of the Budget. As Singapore celebrates her 60th birthday this year, the introduction of SG60 package (SG60 vouches and SG60 baby gift, S$100 SG60 ActiveSG Credit top-up and S$100 SG Culture Pass ) was one of the highlight for citizens. In addition, there are initiatives and programs to
🔸 support for cost for households and business.
🔹 upskill the workforce and increase CPF contributions for senior workers
🔸 provide funds for Innovation and Infrastructure and Climate Resilience
🔹 provide Government-Paid Paternity Leave of 4 weeks (1 April 2025) and shared parental leave of 6 weeks (1 April 2025) and 10 weeks ( 1 April 2026)
🔸 enable seniors to age well and empower Persons with Disabilities
We want to express our heartfelt appreciation to:
🔹 Luther Rechtsanwaltsgesellschaft mbH for sponsoring this highly anticipated event, which members of the 3 chambers look forward to attending each year.
🔸 David Martiny and Dr. Maximilian Kressner for their informative and insightful presentation.
🔹 SwissCham Singapore, and Singaporean-German Chamber of Industry and Commerce / AHK Singapur in co-organizing the event with BLCC Singapore.
🔸 Members of the 3 chambers for their presence and engaging participation in the Q&A session.
Andre Nothomb I Bruno Krellstein I Claudia Gehlen I Patrycja Wisniewska I Sjoerd De Clerck I Andreas Vogel I Anna Odlen I Anne-Sophie Helms I Brian Frissyn I Caroline Maes I Chong Kai Heng I Dimitri DUBURIEZ I Gildas COLDEBOEUF I Karel Van Haver I Karl Reynders I Lionel Aimerie I Lidaw Malou I Lorraine Seetoh I Lucy Lai I Maxime Vanderhaeghe I Michael G Y Zhang I Monika Sturm I Olivier Vijverman I Sara Pereira I Stephanie Simonnet I Thomas Krellstein
Â
