Corporate taxation

SINGAPORE BUDGET 2025

Budget 2025: Corporate income tax rebate to ease business costs, but impact limited for some

A REPEAT of the corporate income tax (CIT) rebate will help businesses reduce costs in the short term, but its impact is less significant for unprofitable companies – even as they may be the ones in g...

There is now great uncertainty about the global tax environment, PM Wong notes.
SINGAPORE BUDGET 2025

Budget 2025: ‘Considerable uncertainty’ about government revenues amid geopolitical shifts

By 2030, PM Wong expects government expenditure to go up to 20% of GDP

Corporate income tax is now the single largest contributor to Singapore’s total revenue, larger than even the net investment returns contribution.
SINGAPORE BUDGET 2025

Budget 2025: Unexpected rise in corporate income tax boosts government revenue

This is partly due to industry-specific cyclical factors, such as in finance and wholesale trade

All active companies that employed at least one local employee last year will get a minimum benefit of S$2,000, with the total benefit for each company capped at S$40,000.
SINGAPORE BUDGET 2025

Budget 2025: Corporate income tax rebate, enhanced Progressive Wage Credit Scheme for businesses

Government’s co-funding levels for wage increases will be raised to 40% in 2025, and to 20% in 2026

The tax function can promote sustainability through the use of various government tax- and grant-related schemes and frameworks.

How tax professionals can play a role in a company’s sustainability journey

They can assess ESG-related schemes to help firms reduce their carbon tax costs, contribute towards causes, and adopt good tax governance

The accounting Big Four’s wishlists for the 2025 Singapore Budget suggest widespread demand for clearer rules on sustainability.
ESG INSIGHTS

Issue 135: Wishing for clear ESG rules in Singapore Budget 2025; new 2035 goals to shape policies now

This week in ESG: Big Four’s green wishlist for Singapore Budget 2025; Singapore’s 2035 climate targets

Changes to Singapore's tax regime since 2022 have spanned all major tax types, including property tax, stamp duty, and goods and services tax.
SINGAPORE BUDGET 2025

Budget 2025 expected to bring tax rebates, no ‘significant’ tax hikes

Observers expect rebates for both corporate income and personal income taxes, to alleviate cost pressures

Indonesia is among 140 countries which agreed on a landmark 2021 deal that allows governments to apply a top-up tax to the 15 per cent level on any corporate profits booked in a country with a lower rate.

Indonesia issues regulation to implement global minimum tax

INDONESIA’S finance ministry said on Thursday (Jan 16) it had issued a regulation to implement the global minimum corporate tax at 15 per cent effective from Jan 1, as part of an international push to...

The proposed measures focus on supporting Singapore and its citizens in navigating present and upcoming challenges, says EY.
SINGAPORE BUDGET 2025

EY calls for innovation advancement support, tax system tweaks in its Budget 2025 wish list

The firm also proposes measures to transform and strengthen the workforce

Under new rules being shepherded by the OECD, a minimum 15 per cent tax will be charged on multinationals with an annual global turnover of more than 750 million euros (S$1.06 billion), regardless of their location.

Thailand to implement global minimum corporate tax rate from Jan 1

Indonesia, Malaysia and Singapore have also said they will implement the minimum tax rate in 2025