Singapore’s Finance Minister and Deputy Prime Minister, Tharman Shanmugaratnam, released of the country’s Budget 2015 on February 23.
Business will benefit from the budget’s extension of the 30% corporate income tax rebate for another two years, extension and revision of the country’s tax benefits for mergers and acquisitions, new incentives for venture capital funds and venture capital fund management companies, and new incentives encouraging companies to become international companies.
In addition, many existing tax breaks are extended or enhanced, including incentives targeting banks, insurers, master feed fund structures, REITs, law practices engaging in international legal services work, and ship operators and related businesses.
A few incentives will be allowed to lapse, including the productivity and innovation credit and an incentive for royalties and other payments from intellectual property or innovation.
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