Singapore will raise the corporate income tax rebate from 40% to 50% for the 2026 year of assessment, Senior Minister of State for Finance Jeffrey Siow told Parliament on Tuesday, according to Reuters. He noted that elevated energy and logistics costs are expected to persist across the economy.
Separately, the Business Times reported that the cash grant for eligible companies will increase from S$1,500 to S$2,000, while the overall benefits cap per company will rise from S$30,000 to S$40,000. Under the current framework, the base tier offers up to S$30,000 in support and was originally scheduled to run until March 31, 2027. Siow added that the scheme will be extended by one year to March 31, 2028, enabling more companies to benefit.
