Our Singapore Budget 2017 Newsletter is now available online. Please click here to download.
This year’s Budget has a few initiatives to help businesses especially small and medium enterprises (SMEs) cope with the immediate economic challenges. A few of the relief measures are:
- The Corporate Income Tax (CIT) Rebate cap will be increased from $20,000 to $25,000 for Year of Assessment (YA) 2017 but the rebate rate will remain unchanged at 50%.
- The CIT rebate will be extended to YA2018 with a reduced rate of 20% and a reduced cap of $10,000.
- The Additional Special Employment Credit (ASEC) will be extended to the end of 2019.
- Levy increases for Work Permit holders will be deferred for one year for the Marine and Process sectors.
Lastly, our Budget 2017 Seminar will be held on 8 March 2017 at Marina Mandarin, Vanda Ballroom, Level 5. To hear more about the Budget changes, do register to attend our event. You may register for the event at bit.ly/chseminar