Major tax hikes unlikely in upcoming Budget, but property tax rates may rise in future
Hiking property tax rates relatively palatable; consider concessions if rates rise
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[SINGAPORE] With the goods and services tax rate of 9 per cent having taken effect in 2024 and a resilient economy, tax takings in Singapore are healthy.
For the nine months from April to December 2025, corporate income tax takings reached S$28.3 billion, representing 87 per cent of its full fiscal year S$32.7 billion projection, up almost 12 per cent year on year.
Therefore, there will hopefully be no major tax hikes in Budget 2026.
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