The government has strived to ensure that everyone can receive assistance from the budget as much as possible, while low -income groups get more assistance.But as Deputy Prime Minister Huang said, this cannot be permanent.Therefore, as digitalization becomes a new normal, companies and individuals should continue to seek adaptation to the environment and change themselves, including improving employees' skills and embrace emerging technologies.
One year's plan lies in spring. On the seventh day of the first month of the lunar calendar, the deputy prime minister and Minister of Finance Huang Xuncai published a speaker entitled "Work together to create the future" in 2024, showing the government's efforts and basis for "It is carefully formulated by the feedback of the Singapore and the feedback of the Singapore.All kinds of supporting plans and measures formulated reflect this theme, which is closely related to everyone. The purpose is to help the company and the company -regardless of the size, including losses, as well as families and individuals, cope with rising life and business costs.And inflation pressure.Some of these supporting plans focus on the present and cope with the challenges in front of them, and some look at the future of the country and plan ahead.This approach also conforms to the consistent style of the Singapore government.
This article wants to summarize some of the measures and supporting plans launched by the budget, that is, developing a competitive and sustainable economic development for everyone with good employment opportunities, establishing a strong social contract, building a strong social contract, building a strong social contract, building construction, and building constructionA safe and tough country.In addition, we also use this to share some ideas and views.
Development can provide a sustainable economy for good employment opportunities
The Singapore government realizes the importance of continuing and retaining high -quality and high -value investment, because these investment can further consolidate Singapore's reputation as the main destination of global investment in a fierce global competitive environment.This will also create better employment opportunities for Chinese people and improve their quality of life.Therefore, this year's budget launched new planning measures and strengthened some existing planning measures, such as: Refundable Investment Credit (RIC), providing enterprises engaged in high -value and substantial economic activities, providedTax credits with certain cash return functions are largely regarded as a target for the second -generation anti -tax base erosion and profit transfer (Base Eross and Profit Shifting 2.0, which is based on economic cooperation and Development (OECD).Abbreviation for BEPS 2.0) Incentive measures launched by the world's lowest tax system with the lowest impact of the world's lowest tax system.
The government will also increase to an increase of 2 billion yuan to the National Productivity Fund and the financial industry development fund to support and assist its investment development.The financial budget speech has also announced a number of measures to help digital, research and development, support green economy and sustainable development projects, such as green loans of Enterprise Financing Scheme, and to more.Provide energy -saving allowances in key industries.此外，随着人们对人工智能（AI）领域的日益关注，以及使用人工智能和生成式人工智能计划带来的好处和便利，政府也将根据全国人工智能策略2.0（简称NAIS 2.0）在未来五The year reserved more than 1 billion yuan, entering AI computing, talent and industry development.
The existing corporate capacity cooperation plan (PACT for short) will also be strengthened to encourage and promote further cooperation between local enterprises and headquarters in Singapore.There is no doubt that this will seek new opportunities and new growth potential for local enterprises to continue to improve their capabilities and expand the market, and to find new opportunities and new growth potential.We expect this to further expand and enhance our talent pool.Because with the increase in talent demand and the global pattern of economic transformation and changing, the talent pool must maintain a certain competitiveness and sustainability.This will also bring more high -quality positions and higher income to the Chinese people, thus further benefiting them in the foreseeable future.
Establish a strong social contract
As in the fiscal budget of previous years, the government continued to allocate a lot of funds to assist the people to hope to establish a strong social cohesion and conclude social contracts.The principles of these aid supporting plans have basically remained unchanged from previous years, that is, the principle of gradual, and low -income groups will receive more assistance.These assistance measures include providing financial support for the employees, paying work fees, sharing funds based on the gradual salary increase subsidy plan (PWCS), co -advanced supporting bonuses, and other economic assistance provided by low -income families.In addition, the government has also launched some new plans and measures, such as: ITE Progression Award, a one -time health savings, and a designed to support musicAge Well (Age Well SG) program for people.
In order to further encourage Chinese people to learn and improve their skills, the government has also increased the skills of creative future training for Chinese people who are 40 and over, of which 4,000 yuan will be used for more targeted training and courses.
This shows that the government strives to ensure the care of the people, share the results of labor, and provide them with the relevant skills and funds they need.This also ensures that Chinese people maintain employment capabilities, keep pace with the times and exert potential in the changing global economy.Just as this proverb: "It is better to grant people to fish."In order to continue to assist enterprises and individuals to cope with rising costs and living expenses, the consciousness and assistance facilities launched in 2020 will increase 1.9 billion yuan, and distribute them to families and individuals in the form of cash and rebate.This includes the additional 600 yuan community Development Director Club shopping vouchers, additional consumption tax subsidy coupons, 200 to 400 yuan living expenses for special subsidies. It is suitable for individuals who do not exceed a certain threshold for taxable income and have no more than one property, as well as hydropower and electricity.Fees, services and miscellaneous fees.In addition, the 2024 estimated tax year, individuals can withdraw 50%of personal income tax, the upper limit is 200 yuan.
Enterprises will also receive some assistance through new corporate assistance supporting facilities, with a total value of 1.3 billion yuan.Under this supporting plan, the 2024 tax year, the company will obtain 50%of the company's tax rebate, the upper limit is 40,000 yuan.For enterprises that do not pay taxes, such as losses, if they hire at least one local employee in 2023, they will get a cash allowance of 2,000 yuan.Although this amount may seem inconspicuous, especially for large and medium -sized companies, it is considered to be a designed to achieve a balance and benefit a broad group.
Other measures under the supporting supporting supporting facilities include the strengthening of the "Enterprise Financing Plan" and extending the Skill Enterprise Subsidy Plan to June 30, 2025.These measures are popular because they have provided timely assistance and relief for Chinese people and enterprises under the decrease in inflation pressure that continues to reduce actual and disposable income.
It is worth noting that the government has strived to ensure that everyone can receive assistance from the budget as much as possible, while low -income groups have received more assistance.But as Deputy Prime Minister Huang said, this cannot be permanent.Therefore, as digitalization becomes a new normal, companies and individuals should always seek adaptation to the environment and change themselves, including improving employees' skills and embrace emerging technologies.Otherwise, they may face the risk of failure and being eliminated and replaced by the times, for example, more and more artificial intelligence takes over the daily or repetitive work of human beings.
Build a safe and tough country
Overall, the fiscal budget in 2024 seems to be a comprehensive and balanced budget, which has formulated a series of measures and plans to help enterprises develop and seize opportunities. In the process, all Singaporeans are for all Singaporeans.Create more and better employment opportunities.At the same time, the government takes care of the people and helps themCopy rising living costs, encourage them to continue to learn, improve their skills, and maintain their ability to employment.With Singapore's healthy financial situation, the trust of the Chinese people, and the social contract established over the years, Singapore should have the advantage of maintaining a safe and tough country.
In summary, the budget in 2024 will benefit from all walks of life and should be welcomed.We are waiting for the details of some measures to better evaluate its effectiveness.Now, as Singapore gets rid of the shadow of the crown disease, let us share the results of the country's progress and move towards the future digital economy.
Author Li Zhongxing is the leader of the China Service Department of Deloitte Singapore, Liu Junbin is Deloitte Singapore tax partner
The above is their personal point of view, not necessarily representing Deloitte's point of view
