Directorates

The Legal Directorate (LD) works in partnership with directorates to advance MOF’s strategic objectives by providing sound legal advice and legal policy inputs in the area of Government Finance. LD also provides secretarial support to MOF’s tax tribunals to ensure a fair and effective system of adjudication on tax matters.

The Economic Programmes (EP) Directorate determines how fiscal and other financial resources are optimally deployed across economic programmes to support Singapore’s economic transformation, and formulates policies to develop Singapore’s corporate regulatory framework and accounting sector.

Key Areas of Work

• Shaping and funding programmes to address national economic priorities such as industry transformation, productivity, and research, innovation and enterprise.
• Identifying challenges and developing strategies, in collaboration with economic agencies, to support economic growth and transformation.
• Driving value-for-money and financing approaches
• Reviewing corporate regulatory frameworks
• Developing Singapore’s accountancy sector

The Social Programmes (SP) Directorate optimises resource allocation to achieve whole-of-government (WOG) strategic outcomes in the following social areas:

• social security
• equal opportunities for all
• an endearing home
• rooted and engaged citizenry

This is achieved by shaping policies in education, housing, health, community development, environment, retirement adequacy, human capital development and sports.

Key Areas of Work

• Annual budgeting for social ministries and prioritisation of projects across government
• Working closely with ministries and associated agencies to ensure continued fiscal sustainability, effectiveness and prudence of programmes
• Identifying, researching, and analysing medium- to long-term social challenges, developing strategies to address these challenges and coordinating inter-agency efforts where necessary

The Fiscal Policy (FP) Directorate is responsible for overall fiscal policy and fiscal and strategic planning, comprising revenue, financing, expenditure planning, and major reviews over the medium and long term. This is to achieve fiscal sustainability and a fiscal tax and transfers system that is pro-growth, internationally competitive and progressive.

Key Areas of Work

• Fiscal models and projections
• Fiscal policy reviews, reports and coordination
• Analysis of fiscal impact and sustainability of policy changes
• Expenditure policy and projections
• Revenue and financing policy, and revenue projections

The Green Bonds Programme Office (GBPO) within the Fiscal Policy Directorate will develop a Government Green Bond framework and work with statutory boards in developing their Green Bond programmes. The GBPO will also perform industry engagement and manage investor relations, supported by the AGD, LTA, MAS and MSE.

The Economic & Fiscal Analysis (EFA) Directorate is responsible for research and analysis on a range of fiscal, economic, and social policy issues key to MOF. This is done through the application of economic theory, econometric modelling and data analytics methods. This is carried out in close collaboration with partner directorates within the ministry as well as with other agencies. The directorate also develops analytical capabilities within MOF.

Key Areas of Work

• Macroeconomic surveillance

• Revenue forecasting

• Econometric policy evaluation and impact analysis

• Data science methods

• Cost-benefit analysis

• Analytical capability development

The Grants Governance Office (GGO) supports MOF’s objective to create a high performance government that is accountable and value-driven. The focus of its work is to ensure proper financial governance over government grants. It also coordinates initiatives to strengthen capabilities in grants administration.

The Tax Policy (TP) Directorate sets tax policies to meet Singapore’s long-term fiscal needs and promote economic and social objectives. It aims 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
• Betting Taxes

The Directorate also oversees Singapore’s international tax policies such as tax treaties and the exchange of information.

The Reserves & Investment (R&I) Directorate oversees policies relating to the investment of reserves to ensure an appropriate balance is drawn between tapping investment returns from reserves to fund the Government’s expenditure and ensuring the continued growth of the reserves. We also formulate the Government’s policies on the protection of reserves.

Key Areas of Work

• 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

The Communications & Engagement (CE) Directorate manages MOF’s corporate image through media relations, public and stakeholder engagement, digital communications, as well as citizen service excellence. The CE Directorate collaborates with MOF departments and statutory boards to proactively engage key stakeholders and members of the public for their better understanding of policies and schemes.

The International Directorate (ID) seeks to advance Singapore’s interests by participating in and shaping the development of issues relating to international economics and finance at multilateral and regional platforms such as Multilateral Development Banks, ASEAN, ASEAN+3, and APEC.

Key Areas of Work

• Managing MOF’s bilateral and multilateral engagements with foreign counterparts and key partners
• Strengthening MOF’s foreign relations and enhancing Singapore’s standing in international fora
• Shaping and balancing the outcome of such international negotiations in alignment with MOF’s policies and goals

The Security & Resilience Programmes (SRP) Directorate determines how our fiscal tools –budget, tax and other resources – are optimally allocated to ministries and agencies under our purview so as to achieve the following strategic outcomes:

• Keep the nation safe and secure
• Advance Singapore’s ambition to be a Smart Nation and push for digital transformation in the public service
• Build social resilience by promoting sports, arts and community involvement
• Strengthen public communications
• Ensure an efficient and effective government administration

The Land & Infrastructure Programmes (LIP) Directorate determines how our fiscal tools, tax, budget and other resources, are optimally deployed to our land and infrastructure agencies to achieve the strategic outcome of Singapore being as a liveable and endearing home.

Key Areas of Work

• Coordinate upstream planning of land and infrastructure development
• Enable optimal land policies at Whole of Government level
• Improve the public transportation network and vehicle tax regime
• Evaluate funding needs for major public infrastructure projects, including airport, sea port, and water infrastructures

The Performance & Evaluation (P&E) Directorate supports MOF’s objectives to enhance accountability for public expenditure. The focus of its work is to ensure that public funds are spent effectively and efficiently to achieve desired outcomes. It also oversees initiatives to strengthen the value-for-money culture within the Government and enhance programme evaluation capabilities.

Key Areas of Work

• Programme Evaluation Framework
• Value-for-Money Reviews
• Public Sector Innovation and Transformation

The Government Procurement Function Office (GPFO) drives efforts to enable effective, efficient, innovative and value-for-money procurement across the Public Service , so as to ensure fiscal and resource sustainability of the Government. The focus of GPFO’s work is on establishing progressive procurement policies driving good practices and processes, developing a capable and professional workforce, and enabling digitalisation and analytics.

Key Areas of Work

• Government Procurement and Revenue Contracting Policies
• Development Project Expenditure Policies
• Digitalisation of Procurement Processes and Data Analytics
• Talent and Capability Development for the Government Procurement Workforce

The Government Finance Function Office (GFFO) supports MOF’s role as a functional leader for the finance function in the Public Service. The focus of its work is to drive finance functional leadership development efforts in the public service that include strengthening the professional development of finance officers, setting the policies and practices on competency and functional requirements, and raising the performance of the finance function across the whole of government.

Key Areas of Work

• Government finance policies, practices and performance management
• Competency and professional requirements and management
• Talent and capability development of finance officers

The Centre for Public Project Management (CP2M) supports MOF’s objectives of ensuring efficient and effective use of public resources, through achieving value-for-money in government expenditure on major development projects.

Key Areas of Work

• Working with government agencies to scope their development proposals and provide advice on optimising value and project outcomes, taking into consideration life-cycle costs
• Managing the gateway process and evaluating the government-wide pipeline of major infrastructure projects
• Sharing best practices and establishing standards, as well as cost and space norms of developing projects across government

The Corporate Development (CD) Directorate plays a key role in MOF by performing the following functions:

• Admin, Security and Preparedness – to deliver excellent service in Workplace Management, Safety and Security as well as Administration
• Human Resource Management and Development – to attract, develop, engage and retain talents
• Organisational Development and Learning - to build organisation capability and culture

Key Areas of Work

• Human capital development
• Organisation sustainability and renewal
• Workplace wellness, safety and security

The Finance, Systems & Projects (FSP) Directorate aims to ensure the efficient allocation and use of resources (e.g. financial resources, fixed asset management, procurement activities) in MOFHQ to bring about a high-performance government.