We determine how fiscal tools can be best deployed to help achieve the whole-of-Government’s strategic outcomes of security, opportunity, community and identity. Our key levers include:

• Budget for social Ministries
• Tobacco duty
• Tax incentives and budgetary giveaways to achieve desired social objectives, such as retirement adequacy.
• Tax and regulatory framework for charities and Institutions of a Public Character (IPCs)

Major Policies and Initiatives

• Contain growth of social expenditures
• Ensure fiscal sustainability through sustainable funding framework
• Develop initiatives to build community

The Performance & Organisation (P&O) Directorate:

• supports MOF’s strategic outcome of creating a high performing government that uses its resources efficient and effectively
• promoting partnerships both between the public and private sectors as well as among public agencies
• looks into the governance of ministries and statutory boards (SBs), which includes key principles and practices to ensure a whole-of-government value-for-money perspective.

Major Policies and Initiatives

• Best Sourcing
• Public Private Partnerships

• delivers excellent service to MOFHQ in Administration and Security, IT, Corporate Communications
• support MOFHQ's drive to achieve its mission

Major Policies and Initiatives

• Corporate Communication
• Media relations
• Quality Service

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
• ensure a balanced and sustainable allocation of government resources to meet the competing demands of the different sectors of our society

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

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

• Ensures efficient and effective investment of Government’s reserves by GIC and Temasek.
• Achieves public sector excellence and an efficient and effective Government Administration through the allocation and review of financial resources for the security and central government ministries and the Organs of State.
• Creates an environment conducive to business and enterprise through the formulation of policies for the development of Singapore’s corporate governance and regulatory framework

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
• Corporatisation of Statutory Boards and divestment of corporate holdings owned by Ministries and Statutory Boards
• Accounting standards for companies, charities, societies and cooperatives
• Risk-based corporate regulatory framework
• Framework for funding security projects

The Managing For Excellence (MFE) Directorate

• supports MOF’s strategic outcome of creating a high performance government, by bringing government agencies together to effectively think and act as one government through Integrated Government projects
• catalyze and help public agencies exploit ICT to improve their efficiency and transform the way they deliver services and connect with their customers and citizens
• manage the programme budgets for Integration of Government and e-Government

Major Policies and Initiatives

• Facilitate and drive Integrated Government initiatives
• Develop ICT Managed Services for the entire public service
• Develop e-Services in the public service and advance it to the forward edge of e-Government

The primary responsibility of Tax Policy (TP) Directorate is to:

• formulate and co-ordinate development of tax policies that provide a tax environment that strengthen economic competitiveness and address social developments.

Major Policies and Initiatives

• Maintaining our Tax Competitiveness
• Tax Competition - Incentives versus low headline rates
• Incentive Management
• Other competitive levers to complement low tax rates
  • DTA
  • Tax Administration
  • Promoting Entrepreneurship and SMEs

• 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

Major Policies and Initiatives

• Improving and Managing Singapore’s Human Capital
• Developing a low and simple tax regime for companies and businesses
• Promoting the manufacturing and services sectors
• Improving the transportation network
• Facilitating trade through customs and excise policies
• Managing the investments of EDBI