Ministry of Finance (Singapore)
Ministry of the Government of Singapore
![]() |
|
Agency overview | |
---|---|
Jurisdiction | Government of Singapore |
Headquarters | 100 High Street, #06-03 The Treasury, Singapore 179434 |
Motto | Growth with Opportunity for All |
Employees | 3,858 (2018) [1] |
Annual budget |
![]() |
Ministers responsible |
|
Agency executives |
|
Child agencies |
|
Website |
Official website
www |
This article
needs additional citations for
verification
.
Please help
improve this article
by
adding citations to reliable sources
. Unsourced material may be challenged and removed.
Find sources: "Ministry of Finance" Singapore – news · newspapers · books · scholar · JSTOR ( April 2020 ) ( Learn how and when to remove this template message ) |
The Ministry of Finance ( MOF ; Malay : Kementerian Kewangan ; Chinese : 财政部 ; Tamil : நிதி அமைச்சு ) is a ministry of the Government of Singapore responsible for managing the fiscal policies and the structure of the economy of Singapore .
Responsibilities
This section
does not
cite
any
sources
.
Please help
improve this section
by
adding citations to reliable sources
. Unsourced material may be challenged and
removed
.
(
July 2020
)
(
Learn how and when to remove this template message
)
|
The authority's main regulatory statutes are Accountants Act, Accounting Standards Partnerships Act, Business Registration Act, Companies Act, Limited Partnerships Act and the Limited Liability Partnerships Act.
The MOF ensures that businesses in Singapore are compatible with international standards and practices, in areas such as company law, accounting standards and corporate governance principles.
Singapore Budget
Every year, the MOF prepares the Singapore Budget and the Minister for Finance presents the Budget to the Parliament before the new financial year begins. The Budget includes the revised Government revenue and expenditure projections for the current financial year as well as the planned government revenue and expenditures for the following financial year.
Following the delivery of the Budget Statement in Parliament, Members of Parliament will debate on the statement and the proposed Budget for the following financial year. After the debate, the Parliament passes the Supply Bill and the President's assent will then be sought to allow the Bill to come into effect. Once the President gives its assent to the Supply Bill, it is then enacted as law known as the Supply Act . The Supply Act controls the Government's spending in the following financial year.
Organisational structure
The MOF oversees 4 statutory boards, which are the Accounting and Corporate Regulatory Authority (ACRA), Inland Revenue Authority of Singapore (IRAS), Singapore Accountancy Commission (SAC) and Tote Board. It also had 3 departments, the Accountant-General's Department (AGD), VITAL, and Singapore Customs . [2]
Statutory Boards
Ministers
The Ministry is headed by the Minister for Finance , who is appointed as part of the Cabinet of Singapore . The incumbent minister is Deputy Prime Minister & MP for Marsiling–Yew Tee GRC Lawrence Wong from the People's Action Party .
Portrait |
Name
(Birth–Death) |
Took office | Left office | Party | Cabinet | |
---|---|---|---|---|---|---|
Goh Keng Swee
MP for Kreta Ayer (1918–2010) |
5 June
1959 |
8 August
1965 |
PAP | Lee K. I | ||
Lee K. II | ||||||
Lim Kim San
MP for Cairnhill (1916–2006) |
9 August
1965 |
16 August
1967 |
PAP | |||
Goh Keng Swee
MP for Kreta Ayer (1918–2010) |
17 August
1967 |
10 August
1970 |
PAP | |||
Lee K. III | ||||||
Hon Sui Sen
MP for Havelock (1916–1983) |
11 August
1970 |
14 October
1983 |
PAP | |||
Lee K. IV | ||||||
Lee K. V | ||||||
Lee K. VI | ||||||
![]() |
Tony Tan
MP for Sembawang (born 1940) |
24 October
1983 |
1 January
1985 |
PAP | ||
Richard Hu
MP for Kreta Ayer SMC (until 1996) MP for Kreta Ayer–Tanglin GRC (from 1997) (born 1926) |
2 January
1985 |
9 November
2001 |
PAP | Lee K. VII | ||
Lee K. VIII | ||||||
Goh I | ||||||
Goh II | ||||||
Goh III | ||||||
![]() |
Lee Hsien Loong
MP for Ang Mo Kio GRC (born 1952) |
10 November
2001 |
30 November
2007 |
PAP | ||
Goh IV | ||||||
Lee H. I | ||||||
Lee H. II | ||||||
![]() |
Tharman Shanmugaratnam
MP for Jurong GRC (born 1957) |
1 December
2007 |
30 September
2015 |
PAP | ||
Lee H. III | ||||||
![]() |
Heng Swee Keat
[3]
[4]
MP for Tampines GRC (born 1961) |
1 October
2015 |
14 May
2021 |
PAP | Lee H. IV | |
Lee H. V | ||||||
![]() |
Lawrence Wong
[3]
[4]
MP for Marsiling–Yew Tee GRC (born 1972) |
15 May
2021 |
Incumbent | PAP |
References
- 1 2 "Singapore Budget" (PDF) .
- ↑ "Ministry of Finance Singapore (MOF)" . mof.gov.sg . Retrieved 26 July 2020 .
- 1 2 Ong, Justin (28 September 2015). "Prime Minister Lee Hsien Loong announces Singapore's new Cabinet" . Channel NewsAsia . Archived from the original on 21 June 2018 . Retrieved 1 October 2015 .
- 1 2 Mahmud, Aqil Haziq (25 July 2020). "PM Lee announces new Cabinet; 6 office holders promoted, 3 retirements" . CNA . Archived from the original on 25 July 2020 . Retrieved 25 July 2020 .
External links
-
Media related to Ministry of Finance (Singapore) at Wikimedia Commons