Executive summaryOn 18 February 2020, Singapore’s Minister for Finance delivered the Singapore Budget for the financial year 1 April 2020 to 31 March 2021 (Budget 2020).Against the backdrop of near-term uncertainties and economic slowdown, Budget 2020 introduces a range of business-friendly tax changes and measures aimed at enhancing Singapore’s position as a Global-Asia hub of technology, innovation and enterprise.This Alert summarizes the key tax initiatives relevant to businesses in Budget 2020.1Detailed discussionStrengthening Singapore’s tax competitivenessTo strengthen the resilience and competitiveness of Singapore’s tax system, various tax incentives have been extended, refined and/or enhanced. These include:The Finance and Treasury Centre schemeThe Global Trader ProgrammeThe...