RSM Singapore Budget 2021 – Key Budget Highlights and Impact on Businesses

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02 March 2021, Tuesday

02.00 - 04.00PM
Live Webinar

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Programme Synopsis

In the 2021 Budget Statement, Deputy Prime Minister and Minister for Finance Heng Swee Keat announced measures to enable firms and workers to transform and emerge stronger from the pandemic. In addition to targeted measures supporting the hardest hit industries, enhanced measures have also been announced to support businesses to innovate, transform, source capital and thrive in the new normal.

Join us as we walk through the key highlights of Budget 2021 and elaborate on the proposed changes to the GST, followed by a fireside chat bringing together an economist, a business advisor and a tax advisor to deliberate on some of the key proposals and the impact on businesses.

Programme Outline

Budget highlights and continuing support measures for businesses
- Chua Hwee Theng, Tax Director, RSM

Upcoming changes on GST
- Richard Ong, GST Partner, RSM

Fireside chat on Singapore Budget 2021
- Selena Ling, Head of Treasury Research & Strategy, OCBC Bank
- Tay Woon Teck, Business Consulting Partner, RSM
- William Chua, Tax Partner, RSM

About the Presenter(s)/ Trainer(s)

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Ms Chua Hwee Theng
Tax Director
RSM Singapore
Accredited Tax Practitioner (Income Tax)

Hwee Theng has vast experience in all aspects of corporate tax and filing for corporate and personal income taxes at public accounting firms as well as the Inland Revenue Authority of Singapore.

She assists numerous clients from diverse industries—including real estate, construction, healthcare, manufacturing, transportation and logistics—in areas such as double taxation treaty interpretations, tax risk management, tax incentives, withholding tax, cross-border transactions, investment structuring and negotiations with the tax authority. She also undertakes tax due diligence reviews as well as tax investigations and audits.

Hwee Theng is an Accredited Tax Practitioner (Income Tax) of SCTP and speaks regularly on tax issues at public seminars organised by various professional bodies and trade associations.

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Mr Richard Ong
GST Partner
RSM Singapore

Richard joined the firm as an associate director and head of the GST division, before becoming a partner in 2015. He has more than 10 years' experience in GST with the IRAS, a Big 4 firm and United Test and Assembly Center Ltd (UTAC). His professional experience with the Big 4 firm and UTAC resulted in tax savings for clients and the company respectively.

Richard has spoken at public seminars in Singapore and Malaysia on topics such as Understanding Goods & Services Tax, Managing GST Risks, the GST Assisted Self-help Kit (ASK) and Malaysia GST. He has also written numerous GST articles.

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Mr Tay Woon Teck
Business Consulting Partner
RSM Singapore

Woon Teck is currently Managing Director of RSM's Business Consulting division. He consults and assists entrepreneurs to build a corporate culture of resilience. His scope of work focuses on discovering and preserving value in their business, creating or co-creating values through innovation and digitalisation, rehabilitating ailing companies, and recovering from failures.

He works with our economic agencies to promote Singapore as a global business hub, assist our entrepreneurs in connecting with ASEAN and the world through RSM’s network of firms. He is also a frequent speaker on ASEAN, Belt Road Initiatives and Managing Digitalisation and Transformation.

Woon Teck currently teaches valuation, corporate governance and risk management in the School of Business (Accountancy) of the Singapore University of Social Sciences.  He was an adjunct faculty member of the Singapore Management University between 2007 and 2016 where he designed and taught the Corporate Advisory Programme for both the Bachelor of Accountancy and the Master of Professional Accounting programmes. He was invited by the National University of Singapore as a guest lecturer for their Master of Business Administration and Bachelor of Business Administration programmes to share practical insights into “Managing Cross-border Investment Risk”. 

Woon Teck was a member of the Corporate Finance Committee of the Singapore Investment Banking Association, and a member of the task force under the ACE Finance Action Crucible to review the issues of financing for internationalising SMEs. He was also the author of Financial Handbook for SMEs, a joint publication by SPRING Singapore and the Association of Banks.

In 2014, he co-authored the workbook Risk Governance for the Third Sector to guide the Boards of the Third Sector in getting started on implementing effective risk governance and internal control practices. He also co-authored Doing Business in ASEAN jointly published by RSM, Rajah & Tann Asia and United Overseas Bank in 2015 and 2016, as well as the booklet Building a Treasury Centre for Sustainable Growth in 2018.

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Mr William Chua
Tax Partner
RSM Singapore

William has years of practical experience in the field of tax, with a substantial period spent working as an international tax partner of Ernst & Young (Singapore).

His extensive experience includes the provision of tax advisory on the restructuring of public listed companies–including MNCs–and group companies in cross-border situations. William's areas of expertise range from withholding tax, shipping, and capital gains tax to fund management and other international tax issues, including indirect taxes such as value added tax and stamp duty.

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Ms Selena Ling
Head of Treasury Research & Strategy



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