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
Add BT as a preferred source
[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.
TRENDING NOW
On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart
Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why
MAS convenes bank CEOs over AI cyberthreats; boards told to own risks, not leave to IT teams
Is it time to scrap COE categories for cars?
