SG Budget 2017: Govt to spend S$310m to enhance corporate income tax rebate

THE Singapore government will spend an extra S$310 million over Years of Assessment (YA) 2017 and 2018 to enhance and extend the Corporate Income Tax rebate.

In his Budget speech on Monday, Finance Minister Heng Swee Keat said the cap for the rebate will go up from S$20,000 to S$25,000 for YA2017, and this rebate will remain at 50 per cent of tax payable.

The rebate will also be extended for another year to YA2018 at a reduced rate of 20 per cent of tax payable, which will be capped at S$10,000.