Rikvin Pte Ltd

Singapore Company Registration Specialists

  • WhatsApp Us+65 8699 8821
  • Get a Quote Now


  • Home
  • Services
    • Incorporation
    • Corporate Secretary
    • Taxation
    • Transfer Pricing
    • Accounting
    • Immigration
    • HR Outsourcing
    • Business Advisory & Support
    • Switch to Rikvin
  • Learn
    • Incorporation
    • Work Visas
    • Taxation
    • Accounting
    • Compliance
    • Resources
    • Blogs
    • Infographics
    • Industry Guides
    • FAQs
  • Tools
    • Company Name Check
    • SSIC Codes Search
    • AGM Calculator
    • Tax Calculators
    • Personal Tax Calculator
    • Corporate Tax Calculator
    • Global Tax Calculator
    • Work Visas
    • PEP Assessment
    • More Free Tools
  • About
  • Contact
You are here: Home / Press Releases / Singapore Company Registration Publishes 2013 Budget Snapshot

Singapore Company Registration Publishes 2013 Budget Snapshot

Singapore Company Registration

Singapore company formation specialist Rikvin has today published the 2013 Singapore Budget Snapshot. The guide serves as a summary of all pertinent policies and tax changes that affect how entrepreneurs and key executives run a Singapore company between year of assessment (YA) 2013 and YA 2015.

The guide is divided into four areas, namely, 1) Singapore corporate tax rebates, 2) the Wage Credit Scheme (WCS), 3) the PIC Scheme Bonus and Enhancements as well as the 4) Tax Changes. In gist, the changes are as follows:

CORPORATE TAX REBATE

Every Singapore company will be eligible for a 30% corporate tax rebate from YA 2013 to YA 2015, capped at S$30,000 per year of assessment (YA). In addition, newly-formed companies will still be eligible for the full or partial Start-up Tax Exemption (SUTE) Scheme.

We’ve decided to illustrate the changes graphically to help our clients and followers have a better understanding of the most important changes pertaining to doing business announced during the Budget statement. Understanding these changes can then help them pivot their strategies and adjust their employment and growth plans for the coming years.

WAGE CREDIT SCHEME

Government will co-fund 40% of the wage increases that firms give to Singapore citizen employees earning up to S$4,000 per month between YA 2013 and YA 2015.

For example, if an employer were to increase the salary of his worker by $200 per month in YA 2013, he will enjoy a total wage credit of S$80 per month for that YA. In YA 2014, if he continues to increase his employee’s monthly wage by another S$200, he will enjoy S$160 wage credit per month for that YA. The co-funding will continue until 2015 as long as the employer sustains a minimum of S$50 wage increment per month until YA 2015.

PIC SCHEME BONUS & ENHANCEMENTS

The PIC Scheme Guide (Productivity and Innovation Credit) offers a dollar-for-dollar matching bonus capped at S$15,000 for 3 YAs. This is over and above existing PIC benefits. In addition, the scope of the PIC Scheme has been enhanced to include IP In-Licensing as and a wider variety of automation equipment as qualifying activities.

OVERVIEW OF TAX CHANGES

This section lists the summary of all tax changes for individuals as well as businesses.

Each of the first three sections are presented via information design. The simple graphic illustrations demonstrate how each of the policies can be applied, thereby facilitating a clearer understanding of new policy changes.

Commenting further, Ms. Christine Lim, General Manager of Rikvin said, “We’ve decided to illustrate the changes graphically to help our clients and followers have a better understanding of the most important changes pertaining to doing business announced during the Budget statement. Understanding these changes can then help them pivot their strategies and adjust their employment and growth plans for the coming years.”

Rikvin Company Registration in Singapore
Rikvin Content

Rikvin’s content team includes in-house and freelance writers across the globe who contribute informative and trending articles to guide aspiring entrepreneurs in taking their business to the next level in Asia.

Flexi-work Has Yet to Gain Traction Among SMEs in Singapore: Rikvin
Singapore Company Formation Specialist Unveils Corporate Tax Calculator
InCorp GroupPrimeGlobal

Rikvin Pte Ltd

EA License No. 11C3030

36 Robinson Road,
#20-01 City House,
Singapore 068877

Company Registration

  • Company Incorporation
  • Subsidiary Registration
  • Branch Registration
  • Representative Office Registration
  • Offshore Company Registration

Immigration

  • Employment Pass Guide
  • ONE Pass Guide
  • Tech.Pass Guide
  • Singapore Work Visas
  • SG Immigration Options

Taxation

  • Corporate Tax Guide
  • Personal Tax Guide
  • Tax Filing Calendar
  • Singapore GST Guide
  • Transfer Pricing

Resources

  • Infographics
  • FAQs
  • Singapore Company Name Check
  • Income Tax Calculator
  • Incorporate Now

© 2025 Rikvin Pte Ltd (UEN 200708442E) An InCorp Group Company. All Rights Reserved.

Terms of Use | Privacy Policy

Sitemap | Terms of Use | Privacy Policy

© 2025 Rikvin Pte Ltd. UEN: 200708442E · All Rights Reserved.