Event Details

Singapore's Deputy Prime Minister and Minister for Finance, Mr Lawrence Wong, delivered the budget statement in Parliament on 16 February 2024. Budget 2024 addressed key long-term issues facing Singapore, including climate change, competition for talent and foreign investments, and social inequality.


What does it mean for businesses, especially those in the Aviation and Aerospace sectors?


Join us on 27 Mar 2024 2.30pm - 4.30pm for insights by Ernst & Young into the implications that Budget 2024 will have for Aviation and Aerospace businesses. EY specialists will take you through the following pertinent topics and answer your most burning questions.



  • Tackling immediate challenges for businesses
  • Enhancement to the Enterprise Financing Scheme
  • Extension of SkillsFuture Enterprise Credit (SFEC)
  • Other Tax measures and rebates
  • Bolstering business competitiveness and Pursuing better growth and jobs
  • Enhancements to The Partnerships for Capability Transformation (PACT) Scheme
  • Introduction of Refundable Investment Credit Scheme
  • Introduction of additional concessionary tax rate tiers
  • Securing climate resilience
  • Enhancements to Energy Efficiency Grant


Please REGISTER on this page to join us. Participation is open to all aerospace and aviation businesses and free of charge.

Speakers

  • Swee Thiam Teh (Partner Global Compliance & Reporting - Corporate Tax Services at Ernst & Young LLP)

    Swee Thiam Teh

    Partner Global Compliance & Reporting - Corporate Tax Services at Ernst & Young LLP

    https://www.ey.com/en_sg

    Swee Thiam focuses on corporate tax compliance, business tax advisory, capital allowance studies and annuity tax accounting as well as more than 20 years of experience in tax compliance and advisory in international and corporate taxation. Swee Thiam’s clients include multinationals, public listed companies and local corporations in the aviation, hospitality, engineering services, resources, trading and manufacturing industries.

    A specialist in the Aviation sector, Swee Thiam serves clients in the aviation and aircraft leasing industries. He advises airlines on taxation matters in Singapore, including aircraft leasing arrangements, and foreign airlines on their set-up of operations in Singapore. He also advises aircraft leasing companies on aircraft leasing structures and the application of the Aircraft Leasing Scheme in Singapore. He works closely with the EY Audit team on the audit of the taxation accounts of aircraft leasing clients in Singapore as well as the EY-Ireland aircraft leasing team to advise clients on the establishment of aircraft leasing platforms. Other credentials include advising on the potential listing of an aircraft leasing trust in Singapore in 2012.

    Swee Thiam’s practical experience includes advising on the taxation aspects of restructuring and cross-border business transactions, obtaining tax rulings from the Inland Revenue Authority of Singapore (IRAS) and dealing with tax enquiries on tax controversial matters raised by the IRAS.

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  • Tracy Tham (Associate Partner Business Incentives Advisory - International Tax & Transaction Services at Ernst & Young LLP)

    Tracy Tham

    Associate Partner Business Incentives Advisory - International Tax & Transaction Services at Ernst & Young LLP

    https://www.ey.com/en_sg

    Tracy has more than 10 years of experience handling a multitude of tax affairs for a broad range of
    clients. She has predominantly been engaged with clients on their incentive matters, starting from the inception of the Business Incentives Advisory group in 2009.
    Throughout the years, Tracy has provided invaluable assistance to clients in numerous contexts. She has helped with incentive planning, negotiations, and subjective applications to the Singapore government, whether during the process of establishing a new presence in Singapore, expanding existing operations, or navigating challenges in meeting current incentive milestones.

    More recently, Tracy has been involved in renegotiating existing incentives for companies impacted by OECD Pillar 2. Tracy frequently liaises with key Singapore authorities such as the Singapore Economic Development Board, Enterprise Singapore, and the Inland Revenue Authority of Singapore as a fundamental aspect of her role.
    In addition to the above, Tracy has also supported clients in site selection studies where she evaluates the relevance of incentives for specific activities in the ASEAN region.

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Agenda

14:00 - 14:30
Arrival and Registration of Participants
14:30 - 14:40
Welcome Remarks by AAIS
14:40 - 15:15
Budget 2024 for Businesses: Part 1
Enhancement to the Enterprise Financing SchemeExtension of SkillsFuture Enterprise Credit (SFEC)Enhancements to The Partnerships for Capability Transformation (PACT) SchemeOther Tax measures...
Enhancement to the Enterprise Financing Scheme
Extension of SkillsFuture Enterprise Credit (SFEC)
Enhancements to The Partnerships for Capability Transformation (PACT) Scheme
Other Tax measures and rebates
view more
15:15 - 15:35
Tea Break
15:35 - 16:10
Budget 2024 for Businesses: Part 2
Introduction of Refundable Investment Credit Scheme
Introduction of additional concessionary tax rate tiers
Enhancements to Energy Efficiency Grant
16:10 - 16:30
Q&A with EY Specialists

Venue

JTC Business Centre

West Camp Road 690
#03-04 JTC Aviation Two
Seletar Aerospace Park
Singapore 797523

If you have any questions please contact Margaret Chong

Contact Organizer

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Community

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