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Budget 2003
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PART I: OUTLOOK AND RESPONSE
Immediate Outlook
Global
Regional
Singapore
Starting Well
Moving Ahead
External Ties
Competitiveness and Flexibility
Entrepreneurship and Singapore Companies
Manufacturing and Services
Human Capital
Tackling Immediate Issues
CPF Changes
CPF Restoration
CPF Salary Ceilings
Employee Contribution Rates for Older Workers
Contribution Rates for Special and Medisave Accounts
Business Costs
Property Tax Rebate
Rental Rebates
Diesel Tax for Taxis
Excise Duties on Petrol
Foreign Worker Policy
Help for Singaporeans
Economic Restructuring Shares
Utilities Save Scheme
Service & Conservancy Charges
Pulling Together
PART II: THE FY 2003 BUDGET
Revised FY 2002 Budget Estimates
Projected FY 2003 Fiscal Position
Expenditure Priorities
Social
Security
Economic
Government
PART III: STRATEGIES FOR GROWTH
Competitiveness and Flexibility
Corporate and Personal Income Tax Rates
Foreign Income
Domestic Interest Income
Portable Medical Benefits
Entrepreneurship and Singapore Companies
Companies Act Amendments
New Business Vehicles
Company Secretaries
Audited Accounts
Concession for Enterprise Development
Revised Overseas Investment Incentive
Government Procedures and Rules
Public Sector Market-Testing
Statutory Board Companies
Minister of State in Charge of Entrepreneurship
Manufacturing and Services
Intellectual Property
Royalty Income
IP Acquisition
Patenting Costs
Foreign Income for R&D
Provision of Information and Digitised Goods
Integrated Industrial Capital Allowance
Upfront Land Premium for Leased Land
Private Wealth Management
Approved Marine Hull and Liability Insurer Scheme
Approved Third Party Logistics Company Scheme
Improved Global Trader Programme
Tax Holiday for the Singapore Commodity Exchange
Submarine Cable Capacity
Ministerial Committee on Services
Human Capital
Continuing Education and Training Agency
Course Fee Relief
Overseas Talent Recruitment
PART IV: TAX AND FEE CHANGES
Liquor Duties
Tobacco Duties
Motor Vehicle Taxes
Valuation Method
ARF and Excise Duty Rebates for Wheelchair Lifts
Childcare Benefits
Stamp Duties
Stamp Duty on Leases
Seller's Stamp Duty
Promoting Philanthropy
Donation of Land and Buildings
Stamp Duty on Donations
Donation of Public Sculptures
Overall FY 2003 Fiscal Position
PART V: NEW CHALLENGES, FRESH GOALS
ANNEXES
ANNEX A: Changes to Excise Duties for Petrol
ANNEX B: Utilities Save Rebates (from July 2003 to June 2004)
ANNEX C: Revised Service & Conservancy Charges Rebates (from January 2003 to December 2003)
ANNEX D: Tax Measures to Promote Entrepreneurship and Growth of Singapore Companies
ANNEX E: Tax Measures to Help the Manufacturing and Services Sectors
ANNEX F: Overseas Talent Recruitment
ANNEX G: Current and New Excise Duties for Liquors
ANNEX H: Current and New Excise Duties for Tobacco Products
ANNEX I: Valuation of Motor Vehicles
Budget Speech 2003
PART II: THE FY 2003 BUDGET
Mr Speaker Sir,
2.1 I will now turn to the budget for the Fiscal Year 2003.
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