Singapore Budget 2013 - Corporate Income Tax & road tax rebates

Corporate Income Tax & road tax rebates

Companies will get also help in coping with higher rental costs, through a special Corporate Income Tax rebate.

The rebate is 30 per cent of tax payable, capped at S$30,000 per year.

A one-year 30 per cent road tax rebate for goods vehicles, buses and taxis will also be granted to help ease the cash flow of companies. The rebate will take effect on 1 July 2013.

Owners of commercial vehicles who choose to renew their Certificate of Entitlement (COE) for only five years when it expires, will now be able to extend it further for another five years.

Currently, when commercial vehicles reach the end of their 10-year COE life, the owners can only renew for five years, with no further extension, or pay more for a 10-year renewal.