PwC's Summary of Tax & Legal Measures

Each year, the Budget speech and its Annex indicate policy direction, but the Finance Bill (the “Bill”) shows where that policy lands. It is the subsequent Act that will shape day-to-day decisions.

Some of the key measures in The Finance Bill 2026 are as follows:

• Personal Tax - Fair Share Contribution abolished and replaced by 35% Tax Band; Tax incentives for holder of Golden Visa Scheme.
  
  
• Corporate Tax - Reduced credit offsets for Corporate Climate Responsibility (CCR) Levy and taxation of non-resident ICT service providers.
  
  
• VAT - VAT shall also be triggered 3 months from the date a supply is performed or delivered; introduction of an insurance premium tax.
  
  
• Property: duties and schemes - Registration duty and land transfer tax on non-citizen EDB-scheme acquisitions reduced from 10% to 5%.
  
  
• Other Taxes - The Rs2 excise duty on PET beverage bottles will be extended to all plastic bottles.
  
  
• Tax Administration - A person having at least 3 years’ experience as tax agent may be a registered tax agent; introduction of compliance agreement.
  
  
• Immigration - Introduction of Golden visa for non-citizens investing at least $1m; non-citizens required to apply online for a digital travel authorisation before travelling.