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GST was implemented at a single rate of 3% on 1 April 1994, with an assurance that it would not be raised for at least five years. To cushion the impact of GST on Singaporean households, an offset package was also introduced. Simultaneously, corporate tax rate was cut by 3% to 27%, and the top marginal personal income tax rate was cut by 3% to 30%.
†Japanese name during Korea under Japanese rule (1910–1945). The Korean name is unchanged. ‡Name change in English due to replacement McCune-Reischauer with the Revised Romanization method in 2000. The Korean name is unchanged.
By June – The Urban Redevelopment Authority will unveil the Draft Master Plan 2025, which will detail development plans for the next 10 to 15 years. [30] 11 July–3 August – 2025 World Aquatics Championships will be held. [35] [36] 3–5 October – Singapore Grand Prix (Formula One) will be held. [37]
UOB economist Barnabas Gan expects Singapore GST will rise to 9% from as early as 1 July, adding revenue of S$1.8 billion for 2022.
26 March – Chong Pang City starts construction and will be completed in 2027. [citation needed] 29 March DBS Bank suffers an outage, which affected its digital services for up to 10 hours. [23] Disney announced that it will start cruise services in Singapore from 2025 for a period of five years. [24]
Singapore’s housing market, running hot just a few years ago, is starting to cool off. Prices for private-sector property jumped by 6.8% in 2023, slower than the 8.6% recorded the year before ...
This is an accepted version of this page This is the accepted version, checked on 16 February 2025. There are template/file changes awaiting review. Economy of Singapore Skyline of Singapore's Downtown Core Currency Singapore dollar (SGD/S$) Fiscal year 1 April – 31 March Trade organisations WTO, APEC, CPTPP, IOR-ARC, RCEP, ASEAN and others Country group Developed/Advanced High-income ...
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