Budget 2004: Speech Budget 2004

Singapore Budget 2004

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	Budget 2004

	Documents for Downloading

	Glossary

Budget Speech 2004

PART I: OUTLOOK AND CHALLENGES


		2003 – Ending on a Positive Note


		2004 – Gathering Momentum


		Growing Manufacturing and Services


		Labour Market Reforms

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Wage Flexibility

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Training and Upgrading

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Foreign Workers


		Encouraging Entrepreneurship


		Enhancing Competition


		Building on Our Fundamentals

PART II: EFFECTIVE GOVERNMENT


		Importance of Sound Public Finance


		Living Within Our Means


		Revised FY 2003 Budget Estimates


		Projected FY 2004 Fiscal Position


		Ensuring Value for Money in Public Spending

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Cut Waste Panel

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		Excellence in Service Delivery


		Divesting Non-core and Non-strategic Activities

		Enabling Initiative and Enterprise

PART III: STRONG SOCIETY


		Building a Strong Society


		Achieving Excellence in Higher Education


		Keeping Healthcare Affordable

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Medisave for Self-Employed

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Health Insurance and MediShield

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Medisave and Medifund Top-ups


		Building the Next Generation


		Adequate Finances for Retirement

PART IV: LAND OF OPPORTUNITY


		Making Singapore a Land of Opportunity


		A Competitive Tax Regime

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Reducing Corporate Income Tax

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Deferring the Reduction of Personal Income Tax

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Exempting Individuals' Foreign-sourced Income

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Exempting Individuals' Singapore-sourced Investment Income


		Promoting Singapore as a Business Hub

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Regional HQ incentive

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Pioneer Incentive

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Withholding Taxes on Royalty Payments


		Encouraging Entrepreneurship

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Tax Exemption for New Companies

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Financing for Start-Ups


		Promoting Financial Services


		Other Tax Changes

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Approved International Shipping Enterprise Scheme

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Streamlining the Processing of Estate Duty

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Motor-Vehicle Taxes

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		Overall FY 2004 Fiscal Position

PART V: CONCLUSION

ANNEXES


		ANNEX A:	Temasek Divestments in 2003 and 2004 (to date)

		ANNEX B:	Tax Exemption of Foreign-sourced Income and Singapore-sourced Investment Income for Individuals

		ANNEX C:	Tax Exemption Scheme for New Companies

		ANNEX D:	Promoting Financial Services

		ANNEX E:	Current and New Excise Duties for Liquor

		ANNEX F:	Current and New Excise Duties for Tobacco Products