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Corporate tax cuts top businesses’ wishlist for Budget 2020, but SBF chief says they are unlikely

The Budget 2020 wishlist among businesses here has changed from previous years, with corporate tax cuts and corporate tax rebates topping the list this year, in an annual survey conducted by the Singapore Business Federation (SBF). “This year is back to the basics, the nuts and bolts, near-term issues. I guess it is because they are challenged, because of the uncertainty,” he added. Mr David Black, the managing director of BlackBox, the market research firm commissioned by SBF to conduct the survey, said that another reason could be that firms know that the Government would not budge on changes to the foreign worker quota in the services sector. For more on this story, click here.