MAZ

Directorates

Economic Programmes

The Economic Programmes (EP) Directorate determines how our fiscal tools – tax, budget and other financial resources – are optimally deployed to our economic agencies as well as formulates policies for the development of Singapore’s corporate governance and regulatory framework and accounting standards so as to help develop:

  • A globally competitive economy that is attractive to both investments and talent
  • A conducive environment that is best for business
  • An efficient and effective trading and communications infrastructure
  • An environment which is conducive to business and enterprise

Major Policies and Initiatives

  • Improving and Managing Singapore’s Human Capital
  • Promoting the manufacturing and services sectors
  • Improving the transportation network
  • Facilitating trade through customs and excise policies
  • Managing the investments of EDBI
  • Accounting standards for companies, charities, societies and cooperatives
  • Risk-based corporate regulatory framework

International

The International Directorate aims to influence the development of international economic issues to advance Singapore’s financial and economic interests. It has the following objectives:

  • To manage MOF’s bilateral and multilateral engagements with key foreign partners and at international platforms, such as ASEAN
  • To strengthen MOF’s foreign relations and enhance Singapore’s standing in international fora such as the IMF and The World Bank
  • To drive the development of a holistic and cross-directorate/agency approach to International Relations issues, shape and balance the outcome of such negotiations to align with MOF's policies and goals, and function as a centralised focal point within MOF for information on all International Relations issues

Major Policies and Initiatives

  • DG Directorate on government procurement
  • TP Directorate on IRAS and DTAs
  • R&I Directorate on GLCs, competition and investment issues
  • EP Directorate on general taxation, customs procedures and cooperation issues

Social Programmes

The Social Programmes (SP) Directorate optimizes resource allocation to achieve Whole of Government (WOG) Strategic Outcomes in the social areas, specifically, social security, equal opportunities for all, an endearing home as well as rooted and engaged citizenry. We do so by shaping policies in education, housing, health, community development, environment, retirement adequacy, human capital development and sports. The following highlights our key interests:

  • Annual budgeting for social Ministries (MOE, MCYS, MOH, MND, MEWR, MOM) and prioritization of projects across Ministries on the WOG level.
  • Work closely with Ministries and associated agencies to ensure continued fiscal sustainability, effectiveness and prudence of programmes.
  • Identify, research and analyze medium to long-term social challenges, develop strategies to address these challenges and coordinating inter-agency efforts where necessary.

Digital Government

Digital Government (DG) Directorate

  • Supports MOF’s strategic outcome of building a high performance government by advancing e-Government at the whole-of-Government level
  • Engages and leverages on IT platforms to create synergies across functions

Major Policies and Initiatives

  • Develop the e-Government Masterplan to chart the strategic direction for e-Government in Singapore
  • Enable and drive cross-agency initiatives that harness ICT to enhance synergies and efficiencies within the public sector
  • Enable and drive cross-agency initiatives that harness ICT to achieve seamless and convenient delivery of public service

Performance & Resource Management

The Performance & Resource Management (PRM) Directorate supports MOF’s objectives to create a high-performing Government that uses its resources efficiently and effectively. The focus of its work is to ensure Value-for-Money, prudence and transparency in Government expenditure, while supporting the Government’s strategic outcomes to meet the competing demands of different sectors of our society.

Major Policies and Initiatives

  • Government Procurement Policies
  • Gateway Process
  • Financial Control Policies
  • Revenue Contracting Procedures
  • Public Sector Performance Reporting

Reserves and Investment

The Reserves and Investment (R&I) Directorate supports MOF’s mission to create a better Singapore through Finance. The Directorate:

  • Oversees policies relating to the investment of reserves to ensure an appropriate balance between tapping investment returns from reserves to fund Government's expenditure and ensuring the continued growth of the reserves.
  • Formulates Government's policies on the protection of reserves.

Major Policies and Initiatives

  • Investment policy (e.g. risk tolerance and asset allocation) for managing our reserves
  • Governance and accountability mechanisms for reserves
  • Formula for spending out of investment returns from reserves

Fiscal Policy

The primary responsibility of the Fiscal Policy (FP) Directorate is to:

  • Design an overall fiscal strategy
  • Implement a fiscal stance that helps enhance the macroeconomic stability of Singapore’s economy
  • Strengthen economic competitiveness
  • Minimise market distortions

Major Policies and Initiatives

  • Fiscal model & projections
  • Fiscal policy reviews, reports & coordination
  • Analysis of fiscal impact and sustainability of policy changes
  • Expenditure projections
  • Revenue policy & projections
  • Fiscal innovation & issues
  • Fiscal transparency reviews

Tax Policy

The Tax Policy (TP) Directorate sets tax policies to meet Singapore's long term fiscal needs and promote economic and social objectives. We aim to ensure that the overall tax regime is competitive, sustainable, equitable and progressive. The TP Directorate formulates and legislates policies of the following tax types which are administered by IRAS: Corporate Income Tax, Personal Income Tax, Goods and Services Tax, Property Tax, Stamp Duties and Betting Taxes. We also oversee Singapore's international tax policies such as tax treaties and exchange of information.


Corporate Communications

The Corporate Communications (CC) Directorate supports the Ministry of Finance (MOF)’s mission to create a better Singapore through sound fiscal policies. It does this by managing the ministry’s corporate image through media relations, marketing communications and service quality. CCD also works with all other MOF directorates, departments and Statutory Boards to effectively communicate policies and new initiatives to domestic and international audiences, and aims to increase the mindshare of the MOF through proactive engagement of our key stakeholders.


Corporate Development

The Corporate Development (CD) Directorate consists of:

  • Admin, Security and Preparedness – Delivering excellent service to MOFHQ in Administration and Security.
  • Human Resource – Attracting, developing, engaging and retaining talent, performance management, manpower planning, succession planning, competencies development, organisation development, knowledge management and exit management.

Major Policies and Initiatives

  • Human Capital Development
  • Knowledge Management

Finance

The Finance Directorate aims to ensure efficient allocation and use of resources (e.g. financial resources, fixed asset management, procurement activities) in MOFHQ to bring about a high performance government. Finance also works closely with our departments and Statutory Boards to achieve MOF’s mission.


Land & Infrastructure Planning Programmes (LIP)

The Land & Infrastructure Planning Programmes (LIP) Directorate determines how our fiscal tools - tax, budget and other resources – are optimally deployed to our land and infrastructure agencies (MND, MOT, MEWR, MinLaw), in order to achieve the strategic outcome of Singapore as a liveable and endearing home.

  • Coordinating upstream planning of land and infrastructure development
  • Enabling optimal land policies at Whole of Government level
  • Improving the public transportation network and vehicle tax regime
  • Evaluating funding needs for major public infrastructure projects, including the airport, seaport, and water infrastructure
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Last Updated on February 13, 2017
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