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In view of uncertainty due to the COVID-19 pandemic, the GST increase [14] will be deferred to after year 2022, with a S$6 billion Assurance Package proposed in 2020 to cushion the impact when the hike kicks in. The GST increase is later deferred again, with the increase taking place in two stages, 8% on 1 January 2023 and 9% on 1 January 2024.
2 February – CP: The Singapore Tourism Board announced measures to help the tourism industry, including funding 50 percent of cleaning fees of up to $10,000 and $20,000 for suspected and confirmed cases respectively, along with waiving licence fees for hotels, travel agents and tour guides for 2020. [98]
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UOB economist Barnabas Gan expects Singapore GST will rise to 9% from as early as 1 July, adding revenue of S$1.8 billion for 2022.
The five-year Our SG Arts Plan is launched to boost Singapore's arts scene with eight strategies. [175] Singapore signs a free trade agreement (FTA) with the European Union called the European Union–Singapore Free Trade Agreement. [176] 23 October – Dyson plans to build electric cars in Singapore. The first vehicles are targeted to launch ...
6 March – Sengkang Grand Mall which is located outside Buangkok MRT station is officially opened. Buangkok Integrated Transport Hub will be opened in 2024. [20]8 March – CP: A White Paper on Singapore's Response to COVID-19 is released, setting out seven recommendations to boost preparedness for a future pandemic.
This is an accepted version of this page This is the latest accepted revision, reviewed on 17 February 2025. Economy of Singapore Skyline of Singapore's Downtown Core Currency Singapore dollar (SGD/S$) Fiscal year 1 April – 31 March Trade organisations WTO, APEC, CPTPP, IOR-ARC, RCEP, ASEAN and others Country group Developed/Advanced High-income economy Statistics Population 6,040,000 (2024 ...
22 July – CP: Due to a recent increase in COVID-19 cases and clusters in Singapore, the country returns to Phase 2 (Heightened Alert) which goes into effect until 18 August. [68] 23 July – 8 August – 23 athletes from Singapore compete at the 2020 Summer Olympics in Tokyo, Japan. For the first time since 2004, Singapore did not win any ...