Companies will receive a 50% corporate income tax rebate for the Year of Assessment 2025. Active companies that are not profitable but that have employed at least one local employee in 2024 will receive a cash grant of at least $2,000. A company can receive benefits of up to $40,000, comprising both the rebate and cash grant.
This is the second year running that a corporate income tax rebate has been provided to businesses. It acknowledges the diverse challenges faced by businesses given the uncertain external environment as all can benefit from the short-term support. This should be especially welcomed by Singapore small and medium-sized enterprises pressured by rising business costs as they pivot towards mid-term productivity measures and new opportunities.
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Marcus Lam
Executive Chairman, PwC Singapore
Patrick Yeo
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