SINGAPORE: Companies will get 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.
It’s part of the government’s Three—Year Transition Support Package to help businesses restructure and is expected to cost the government S$1.3 billion over three years.
Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam pointed out in his Budget Statement in Parliament on Monday that besides higher manpower costs, businesses also face other cost pressures such as higher rentals.
He said the rebate will help companies cope during this period of transition.
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