Singapore: Budget 2017 highlights

20 February 2017

Sandra Seah

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.

Authors

Seah-Sandra

Sandra Seah

Joint Managing Partner

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