SUPPORT FOR BUSINESSES
Higher energy and logistics costs will continue to be felt by businesses across the economy for some time, with SMEs particularly vulnerable, said Mr Siow.
To help businesses manage cashflow, the corporate income tax rebate announced at Budget 2026 will be raised from 40 per cent to 50 per cent for the Year of Assessment 2026.
The minimum benefit for companies with at least one local employee will also be raised from S$1,500 to S$2,000 (US$1,170 to US$1,560), and the total benefits cap per company will increase from S$30,000 to S$40,000.
“We will disburse this enhancement quickly – as early as the end of this month,” said Mr Siow.
Support will also be extended to businesses seeking to build longer-term resilience against high energy prices.
“Businesses that invest in energy efficiency will reduce their exposure to volatile energy prices and lower their long-run operating costs,” he said.
The Energy Efficiency Grant – a subsidy for businesses to purchase energy-saving equipment – will be extended to all sectors for another year, to Mar 31, 2028. The grant currently applies to six designated sectors: food services, retail, manufacturing, construction, maritime and data centres.
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