The Business Times
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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

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Paige Lim

Paige Lim

Published Mon, Feb 10, 2025 · 05:00 AM
    • Changes to Singapore's tax regime since 2022 have spanned all major tax types, including property tax, stamp duty, and goods and services tax.
    • Changes to Singapore's tax regime since 2022 have spanned all major tax types, including property tax, stamp duty, and goods and services tax. PHOTO: BT FILE

    SINGAPORE is unlikely to see “significant” tax hikes in Budget 2025, following tweaks in the last two years, observers told The Business Times. While rates may not be lowered either, rebates could be on the way.

    “We do not expect significant tax hikes this year, as various adjustments in tax rates have already been effected to the Singapore tax system over the past years,” said See Wei Hwa, property tax and dispute resolution partner at KPMG in Singapore.

    Changes since 2022 have spanned “all major tax types”, he added, including property tax, stamp duty, goods and services tax, personal income tax, casino tax, and carbon tax.

    Singapore Budget 2025TaxesBase Erosion and Profit Shifting (BEPS)Tax incentivesCorporate taxation

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