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| Agency overview | |
|---|---|
| Formed | 1959; 66 years ago (1959) |
| 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 |  S$1.02 billion (2019)[1] |
| Ministers responsible |
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| Agency executives |
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| Child agencies |
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| Website | Official website www |
| Agency ID | T08GA0013E |
TheMinistry of Finance (MOF;Malay:Kementerian Kewangan;Chinese:财政部;Tamil:நிதி அமைச்சு) is aministry of theGovernment of Singapore responsible for managing the fiscal policies and the structure of the economy ofSingapore.
The authority's main regulatory framework includes the Accountants Act, Accounting Standards Act, Business Registration Act, Companies Act, Limited Partnerships Act and Limited Liability Partnerships Act. These laws set out the rules for accounting, business registration and company governance. The Ministry of Finance also works to ensure that Singapore's business laws and standards follow international best practices in company law, accounting and corporate governance.
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 theSupply Act. The Supply Act controls the Government's spending in the following financial year.
The MOF oversees 3 statutory boards, which are theAccounting 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.
The Ministry of Finance is led by theMinister for Finance, a position appointed within theCabinet of Singapore. It replaced the former role ofFinancial Secretary of Singapore. The ministry was created after the1959 general election duringLee Kuan Yew'sFirst Cabinet, withGoh Keng Swee serving as its inaugural minister. Since its formation, all individuals who have held the position of Minister for Finance have been members of thePeople's Action Party (PAP). Twoprime ministers have also concurrently held the finance ministry:Lee Hsien Loong (2004 to 2007) andLawrence Wong (2024 to present).
| Minister | Took office | Left office | Party | Cabinet | ||
|---|---|---|---|---|---|---|
 | Goh Keng Swee MP forKreta Ayer (1918–2010) | 5 June 1959 | 8 August 1965 | PAP | Lee K. I | |
| Lee K. II | ||||||
 | Lim Kim San MP forCairnhill (1916–2006) | 9 August 1965 | 16 August 1967 | PAP | ||
| Goh Keng Swee MP forKreta Ayer (1918–2010) | 17 August 1967 | 10 August 1970 | PAP | ||
| Lee K. III | ||||||
 | Hon Sui Sen MP forHavelock (1916–1983) | 11 August 1970 | 14 October 1983 | PAP | ||
| Lee K. IV | ||||||
| Lee K. V | ||||||
| Lee K. VI | ||||||
 | Tony Tan MP forSembawang (born 1940) | 24 October 1983 | 1 January 1985 | PAP | ||
 | Richard Hu MP forKreta Ayer SMC(until 1996) andKreta Ayer–Tanglin GRC(from 1997) (1926–2023) | 2 January 1985 | 9 November 2001 | PAP | Lee K. VII | |
| Lee K. VIII | ||||||
| Goh I | ||||||
| Goh II | ||||||
| Goh III | ||||||
 | Lee Hsien Loong MP forAng Mo Kio GRC (born 1952) | 10 November 2001 | 30 November 2007 | PAP | ||
| Goh IV | ||||||
| Lee H. I | ||||||
| Lee H. II | ||||||
.jpg) | Tharman Shanmugaratnam MP forJurong GRC (born 1957) | 1 December 2007 | 30 September 2015 | PAP | ||
| Lee H. III | ||||||
 | Heng Swee Keat[3][4] MP forTampines GRC (until 2020) andEast Coast GRC (from 2020) (born 1961) | 1 October 2015 | 14 May 2021 | PAP | Lee H. IV | |
| Lee H. V | ||||||
 | Lawrence Wong[3][4] MP forMarsiling–Yew Tee GRC (born 1972) | 15 May 2021 | Incumbent | PAP | ||
| Wong I | ||||||
| Wong II | ||||||
Media related toMinistry of Finance (Singapore) at Wikimedia Commons
