SBF-PwC Budget wish list: Helping SMEs with M&A, simpler listing rules

Recommendations are among 17 spread across four key areas

- Colin Tan

Initiatives to help firms deal with rising business costs and expand via mergers and acquisitions (M&A) are centre stage in a Budget wish list put forward by PwC Singapore and the Singapore Business Federation (SBF).

The recommendations are among 17 spread across four key areas that seek to keep small and medium-sized enterprises (SMEs) globally competitive and sustainable, accelerate workforce transformation, boost the business ecosystem and encourage firms to contribute to societal well-being.

Another significant recommendation for Feb 18's Budget suggests deepening local capital markets and encouraging more SMEs to list on the Singapore Exchange.

SBF and PwC suggest simplifying the listing process, while also introducing concessionary income tax rates for newly listed companies in their initial years. They also want tax deductions for listing costs and notional interest on equity capital.