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Singapore Budget 2018: Singapore to boost corporate income tax rebate, to cost S$475m over 2yrs

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The increase in revenue in the government coffers from the GST hike will translate to almost 0.7 per cent of GDP per year.

THE government plans to raise the corporate income tax (CIT) rebate to 40 per cent of tax payable, capped at S$15,000, Finance Minister Heng Swee Keat said on Monday. This is for the year of assessment 2018.

It will also extend the CIT rebate to year of assessment 2019, at the rate of 20 per cent of tax payable. This will be capped at S$10,000.

These changes are projected to cost an additional S$475 million over the two years.

For more Budget 2018 stories visit bt.sg/budget18

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SINGAPORE BUDGET 2018

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