Knowledge Highlights 27 January 2025
Budget 2025: Summary of key tax changes and initiatives
On 18 February 2025, Singapore Prime Minister and Minister for Finance Lawrence Wong delivered the Budget Statement for Financial Year 2025, focusing on tackling cost pressures, supporting businesses, advancing Singapore’s growth frontier, and building a sustainable city. The Prime Minister also announced various initiatives and changes aimed at maximising Singapore’s competitive strengths.
This article provides an overview of the key tax changes that were announced and other changes impacting businesses:
- Corporate income tax rebate and cash grant
- Enhancing support schemes for internationalisation and mergers and acquisitions
- Tax incentives recommended by the Equities Market Review Group
- Tax changes to maintain a fair and competitive tax system
- Investing in the future
- Employment related measures
To read the Tax Update, click here.
