Tax Bulletin
Updates to the Financial Sector Incentive (FSI)
The following tax schemes were first announced in the Singapore Budget 2025 on 18 February 2025:
- An additional concessionary tax rate (CTR) tier of 15% for the Financial Sector Incentive (FSI) schemes; and
- New FSI schemes for fund managers providing an enhanced CTR of 5% and tax exemption for certain types of income according to the listing status and management of listed equities respectively in Singapore.
The Monetary Authority of Singapore (MAS) provided further details in a circular (FDD Cir 05/2025) dated 3 July 2025.
Tax Bulletin
August 2025
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