Singapore Budget 2015 Key Highlights

We are delighted to feature for your information the Budget 2015 delivered in Parliament on 23 February 2015 by Singapore's Deputy Prime Minister and Finance Minister, Tharman Shanmugaratnam for the financial year 1 April 2015 to 31 March 2016:

Company Tax

• Extension of 30% Corporate Income Tax rebate up to SGD20,000 for each of the Years of Assessment 2016 and 2017 based on an entity's profits for each of the financial years 2015 and 2016.
• Allowing Productivity and Innovation Credit (PIC) bonus to lapse in Year of Assessment 2015 on qualifying expenditures incurred in the company's financial year 2014.
• Extending and enhancing the Mergers & Acquisitions (M&A) Scheme to accord M&A allowance up to SGD20 million for each assessment Year.