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Yes. From 2H 2026, companies can use the MRA grant not only for new markets but also to expand and deepen presence in existing markets.
Click here for support for businesses from Budget 2026 (Annex B-1)
No. Employer is not allowed to deduct any unapproved or unauthorized deductions from the employee salaries under the Act.
For claims up to $400,000 per year, no prior approval is required.
Approval is still needed for larger claims or certain activities.
Click here for support for businesses from Budget 2026 (Annex B-1)
No application is required. Eligible companies will automatically receive the rebate and cash grant from 2Q 2026 onwards.
How can Achibiz help businesses maximise Budget 2026 benefits?
Achibiz provides end-to-end support, including:
- Tax planning to maximise rebates and deductions
- Eligibility assessment and structuring
- Compliance and documentation handling
The Market Readiness Assistance (MRA) grant has been enhanced to support international growth.
From 1 April 2026, SMEs can receive:
- Up to 70% funding support
- Up to $100,000 per company per market
This helps reduce the cost of overseas marketing, setup, and business development.
Click here for support for businesses from Budget 2026 (Annex B-1)
As an employer, you can write to IRAS about the refusal by the foreign employee despite being the fact that the employee is to bear the income tax fully under the employment agreement and IRAS would advise you accordingly.
Employer’s tax clearance (IR21) obligation remains the same and should be sought in due course:
- Notify IRAS at least one month before the employee’s last day.
- Withhold the employee’s pay once notice is given (either by you or them).
- Within 30 days, IRAS will advise how much tax is due, and how much money can be paid to the employee.
You’ll need to do this whether or not the Personalised Employment Pass (PEP) holder is leaving Singapore.
No. It’s not mandatory under Employment Act. It is at the discretion of the employer.
No. It’s not mandatory under Employment Act. It is at the discretion of the employer.
Yes. It’s mandatory to contribute CPF for thirteenth month’s salary or bonus.
No. Singapore companies do not have to pay taxes on capital gains or dividends.
As an employer, you are required to seek tax clearance (IR21) when any of your non-Singapore Citizen employees ceases employment with you in Singapore.
You have the responsibility to file the Form IR21 and withhold all monies due to the employee for tax clearance purpose.
The LP (Limited Partnership) is required to prepare the Income Tax Form P for LP whereby the Partners are required to submit their respective Form B individually for their share of trade incomes.
A partnership in Singapore does not pay tax at the entity level. Instead, it must file an annual income tax return using Form P with the Inland Revenue Authority of Singapore (IRAS).
The partnership reports its income, but the profits are allocated to individual partners, who then declare their share in their personal or corporate tax returns depending on whether the partner is an individual or a company.
The owner of the Sole Proprietorship is required to prepare a Four Line Statement for his trade and submit his Income Tax Form B for his personal taxation for all his trade incomes.
Corporate Tax Exemption / Tax benefits for new companies in Singapore / tax incentives for new companies / tax incentives for old companies in Singapore: With effect from YA 2010, a company is taxed at a flat rate of 17% on its chargeable income regardless of whether it is a local or foreign company.
1) Tax Exemption Scheme for New Start-Up Companies: |
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| Under the scheme, qualifying new companies are given the following tax exemption for the first three consecutive YAs (Year of Assessment) where the YA falls in | |
| Year of Assessment (YA) | Exemption on normal chargeable income |
| YA 2020 onwards | 75% exemption on the first $100,000 |
| YA 2010 to 2019 | Full exemption on the first $100,000 |
| A further 50% exemption on the next $200,000 | |
2) Partial Tax Exemption for all companies: |
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| All companies including companies limited by guarantee can enjoy the following tax exemption: | |
| Year of Assessment (YA) | Exemption on normal chargeable income |
| YA 2020 onwards | 75% exemption on the first $10,000 |
| A further 50% exemption on the next $190,000 | |
| YA 2010 to 2019 | 75% tax exemption on the first $10,000 |
| A further 50% exemption on the next $290,000 | |
Loan limits have been improved to support business growth.
From 1 April 2026:
- Borrower caps for certain loans are removed
- Businesses remain subject to an overall $50 million exposure limit per group
Click here for support for businesses from Budget 2026 (Annex B-1)
In addition to the tax rebate, eligible companies will receive a minimum cash benefit of $1,500, even if their tax payable is low.
To qualify, the company must be active and have employed at least one local employee in 2025, with CPF contributions made. Shareholder-directors are excluded from this condition.
How can Achibiz help businesses maximise Budget 2026 benefits?
Achibiz provides end-to-end support, including:
- Tax planning to maximise rebates and deductions
- Eligibility assessment and structuring
Compliance and documentation handling
Under Budget 2026, the Singapore Government has introduced a Corporate Income Tax (CIT) rebate of 40% of tax payable for YA 2026 to help businesses manage rising operational costs.
This means that after computing your company’s tax payable, 40% of that amount will be offset, reducing your final tax liability. However, the total benefit (including cash grant) is capped at $30,000 per company.
How can Achibiz help businesses maximise Budget 2026 benefits?
Achibiz provides end-to-end support, including:
- Tax planning to maximise rebates and deductions
- Eligibility assessment and structuring
- Compliance and documentation handling
The DTDi scheme allows 200% tax deduction on qualifying internationalisation expenses.
From YA 2027:
- Automatic claim limit increased to $400,000 per year
- More activities can be claimed without prior approval
Click here for support for businesses from Budget 2026 (Annex B-1)
The combined maximum benefit is $30,000, which includes both the 40% CIT rebate and the $1,500 cash grant.
How can Achibiz help businesses maximise Budget 2026 benefits?
Achibiz provides end-to-end support, including:
- Tax planning to maximise rebates and deductions
- Eligibility assessment and structuring
- Compliance and documentation handling
How can Achibiz help businesses maximise Budget 2026 benefits?
Achibiz provides end-to-end support, including:
- Tax planning to maximise rebates and deductions
- Eligibility assessment and structuring
- Compliance and documentation handling
The measures aim to help businesses:
- Manage rising costs
- Expand internationally
- Improve access to financing
- Strengthen long-term competitiveness
Click here for support for businesses from Budget 2026 (Annex B-1)
From April 2026 to March 2029:
- SMEs can receive up to 70% support
- Non-SMEs can receive up to 50% support
This applies to schemes such as the Business Adaptation Grant and Global Innovation Alliance programmes.
Click here for support for businesses from Budget 2026 (Annex B-1)