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m Task 20: replace {lang-??} templates with {langx|??} ‹See Tfd› (Replaced 2; ignored 1: Lang-zh);
 
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| headquarters = 100 High Street, #06-03 The Treasury, Singapore 179434
| headquarters = 100 High Street, #06-03 The Treasury, Singapore 179434
| minister1_name = [[Lawrence Wong]]
| minister1_name = [[Lawrence Wong]]
| minister1_pfo = <br />Minister
| minister1_pfo = <br />Prime Minister and Minister
| minister2_name = [[Indranee Rajah]]
| minister2_name = [[Indranee Rajah]]
| minister2_pfo = <br />Second Minister
| minister2_pfo = <br />Second Minister
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| website = {{Official website|http://www.mof.gov.sg}} <br> {{url|www.singaporebudget.gov.sg}}
| website = {{Official website|http://www.mof.gov.sg}} <br> {{url|www.singaporebudget.gov.sg}}
| footnotes =
| footnotes =
| agency_id = T08GA0013E
}}
}}


The '''Ministry of Finance''' ('''MOF'''; {{lang-ms|Kementerian Kewangan}}; {{lang-zh|财政部}}; {{lang-ta|நிதி அமைச்சு}}) is a [[ministry (government department)|ministry]] of the [[Government of Singapore]] responsible for managing the fiscal policies and the structure of the economy of [[Singapore]].
The '''Ministry of Finance''' ('''MOF'''; {{langx|ms|Kementerian Kewangan}}; {{lang-zh|财政部}}; {{langx|ta|நிதி அமைச்சு}}) is a [[ministry (government department)|ministry]] of the [[Government of Singapore]] responsible for managing the fiscal policies and the structure of the economy of [[Singapore]].


== Responsibilities ==
== Responsibilities ==
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==Organisational structure==
==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]].<ref>{{Cite web|title=Ministry of Finance Singapore (MOF)|url=https://www.mof.gov.sg/about-us/organisational-structure/Statutory-Boards-Bodies-and-Departments|access-date=2020-07-26|website=mof.gov.sg|language=en}}</ref>
The MOF oversees 3 statutory boards, which are the [[Accounting and Corporate Regulatory Authority]] (ACRA), [[Inland Revenue Authority of Singapore]] (IRAS) and Tote Board. It also had 3 departments, the Accountant-General's Department (AGD), [[Singapore Customs]]<ref>{{Cite web|title=Ministry of Finance Singapore (MOF)|url=https://www.mof.gov.sg/about-us/organisational-structure/Statutory-Boards-Bodies-and-Departments|access-date=2020-07-26|website=mof.gov.sg|language=en}}</ref> and VITAL.
===Statutory Boards===
===Statutory Boards===
{{div col}}
{{div col}}
*[[Accounting and Corporate Regulatory Authority]]
*[[Accounting and Corporate Regulatory Authority]]
*[[Inland Revenue Authority of Singapore]]
*[[Inland Revenue Authority of Singapore]]
* [[Singapore Accountancy Commission]]
* Tote Board
* Tote Board
{{div col end}}
{{div col end}}
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| rowspan="3" |[[Second Lee Kuan Yew Cabinet|Lee K. II]]
| rowspan="3" |[[Second Lee Kuan Yew Cabinet|Lee K. II]]
|-
|-
|[[File:Lim Kim San in the 1940s.jpg|frameless|164x164px]]
|
|'''[[Lim Kim San]]'''<br><small>MP for [[Cairnhill Single Member Constituency|Cairnhill]]</small><br><small>(1916–2006)</small>
|'''[[Lim Kim San]]'''<br><small>MP for [[Cairnhill Single Member Constituency|Cairnhill]]</small><br><small>(1916–2006)</small>
|<small>9 August</small><br>1965
|<small>9 August</small><br>1965
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[[Category:Government ministries of Singapore|Finance]]
[[Category:Government ministries of Singapore|Finance]]
[[Category:Finance ministries|Singapore]]
[[Category:Ministries of finance|Singapore]]
[[Category:1959 establishments in Singapore]]
[[Category:1959 establishments in Singapore]]
[[Category:Ministries established in 1959|Singapore]]
[[Category:Ministries established in 1959|Singapore]]

Latest revision as of 14:02, 28 October 2024

Ministry of Finance
Agency overview
JurisdictionGovernment of Singapore
Headquarters100 High Street, #06-03 The Treasury, Singapore 179434
MottoGrowth with Opportunity for All
Employees3,858 (2018)[1]
Annual budgetIncrease S$1.02 billion (2019)[1]
Ministers responsible
Agency executives
  • Tan Ching Yee,
    Permanent Secretary
  • Lai Wei Lin,
    Second Permanent Secretary
  • Kevin Shum,
    Deputy Secretary (Planning)
  • Adrian Chua,
    Deputy Secretary (Development)
Child agencies
WebsiteOfficial website
www.singaporebudget.gov.sg
Agency IDT08GA0013E

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

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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

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Main article: Supply Act (Singapore)

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

[edit]

The MOF oversees 3 statutory boards, which are the Accounting and Corporate Regulatory Authority (ACRA), Inland Revenue Authority of Singapore (IRAS) and Tote Board. It also had 3 departments, the Accountant-General's Department (AGD), Singapore Customs[2] and VITAL.

Statutory Boards

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Ministers

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The Ministry is headed by the Minister for Finance, who is appointed as part of the Cabinet of Singapore. The incumbent minister is 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
Goh Keng Swee
MP for Kreta Ayer
(1918–2010) 		17 August
1967 		10 August
1970
Lee K. III
Hon Sui Sen
MP for Havelock
(1916–1983) 		11 August
1970 		14 October
1983
Lee K. IV
Lee K. V
Lee K. VI
Tony Tan
MP for Sembawang
(born 1940) 		24 October
1983 		1 January
1985
Richard Hu
MP for Kreta Ayer SMC
(until 1996)
MP for Kreta Ayer–Tanglin GRC
(from 1997)
(1926–2023) 		2 January
1985 		9 November
2001 		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
Goh IV
Lee H. I
Lee H. II
Tharman Shanmugaratnam
MP for Jurong GRC
(born 1957) 		1 December
2007 		30 September
2015
Lee H. III
Heng Swee Keat[3][4]
MP for Tampines GRC
(born 1961) 		1 October
2015 		14 May
2021 		Lee H. IV
Lee H. V
Lawrence Wong[3][4]
MP for Marsiling–Yew Tee GRC
(born 1972) 		15 May
2021 		Incumbent
Wong I

References

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  1. ^ a b "Singapore Budget" (PDF).
  2. ^ "Ministry of Finance Singapore (MOF)". mof.gov.sg. Retrieved 26 July 2020.
  3. ^ a b 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.
  4. ^ a b 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.
[edit]
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