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Tax breaks are at the top of the 2012 Budget wish list for mid-sized corporates in Singapore this year, according to United Overseas Bank Limited (UOB) Mid-Sized Corporates Business Sentiment Survey.

UOB surveyed more than 1,600 of its mid-sized corporate customers in late December 2011 and found the top three items they were looking for from this year’s Budget were preferential tax rates (73 percent), government assistance loans (62 per cent) and reductions in foreign worker levies (61 per cent).

“Preferential tax rates are at the top of the Budget wish list because cost control is a priority for mid-sized corporates in the current economic climate," says Eric Tham, Managing Director, Group Commercial Banking, UOB Group.

Tham explains that preferential tax rates would provide additional liquidity to help businesses weather the financial headwinds from Europe and the United States, as well as continue with their expansion plans into Asia.

“Government assistance loans were next on the list of Budget requests. The UOB Commercial Banking unit will continue to support mid-sized corporate customers with the extension of these loans,” said Tham.

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