Singapore: Budget 2017 highlights

Published

Feb 20 2017

Written By

I am a corporate lawyer with extensive experience in local and cross-border mergers and acquisitions, joint ventures and collaborations, and other general corporate matters.

Regions

Asia-Pacific

Countries

Singapore

Bird & Bird is closely watching today's Singapore Budget 2017 Announcement and brings you industry specific highlights.

Energy and Utilities – New Carbon Tax

A Carbon Tax of between SGD10 and SGD20 per tonne of GHG emissions will be introduced from 2019.
The new Carbon Tax will be levied on large direct emitters of GHGs, e.g. power stations, and is expected to impact 30 to 40 facilities locally.
This could result in a 2.1 to 4.3% rise in electricity prices for consumers equivalent to a rise of 43 to 86 cents per kilowatt-hour and will likely accelerate the growth of renewable electricity products in Singapore.
Bird & Bird views this as a positive development likely to spur the development of Smart Cities, Renewable Energy and CleanTech and Smart Grids.
We invite you to click the links above for more information on our specialised practices in these areas.

This article is produced by our Singapore office, Bird & Bird ATMD LLP, and does not constitute legal advice. It is intended to provide general information only. Please contact our lawyers if you have any specific queries.