Last week, the Singapore Budget 2018 was announced, and the question on everyone's mind was: Will the reduced startup tax breaks have a big impact on Singapore's startup ecosystem? The short answer is no, although the startups who have just turned profitable will be at a disadvantage.
"Serial entrepreneur Darius Cheung said the move will 'impede the growth rate' of startups that have just become profitable, and less so for startups that have been profitable. But he also noted that the latter forms only a small segment - 5 per cent or less - of startups in Singapore."
"'Most startups, especially those that require support and incubation, are not profitable. For startups that are profitable, the move will not make much of a difference to them as it will amount to only a few thousand dollars in savings. So this adjustment would not matter much.'"
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