Corporate Tax Singapore: Corporate Income Tax Rebate at 25%

As part of the budget for the financial year ended beginning 2020, it was announced by the Singapore Government that the Corporate Income Tax Rebate for the tax year of assessment 2020 will at 25% subject to a cap of S$15,000. 

This rebate is granted as part of the Stabilisation and Support Package that the Singapore Government provides to all companies in Singapore following the coronavirus outbreak so as to enhance the cash flows of Singapore companies.

Prior to this budget announcement, there were no longer any rebates available for Singapore companies. 

All Singapore registered companies should ensure that they take this rebate into account during the annual corporate income tax filings in Singapore. 

About Lee & Hew

Lee & Hew has a robust track record in advising clients on complex corporate income tax issues on both the local and international front. Beyond the complex income tax issues, Lee & Hew also helps clients with perform tax planning, income tax computations, corporate income tax filings in Singapore and is acting as the tax agent for countless companies.

We at Lee & Hew prides ourselves for our robust track record in helping companies, big or small, in Tax issues that they may face from time to time in an ethical and legal manner with desirable results.