Singapore: Tax measures included in stimulus package (COVID-19)
Singapore: Tax measures included in stimulus package
The government of Singapore on 26 March 2020 announced a stimulus package (known as the “Resilience Budget”) in response to the coronavirus (COVID-19) pandemic.
The Resilience Budget aims to support households, help workers stay employed, and provide support for enterprises to emerge stronger when the economy recovers. The Resilience Budget also introduced measures to help specific sectors that are directly affected by the COVID-19 pandemic such as the aviation, tourism, food services, land transport and arts and culture sectors.
Key tax measures in the Resilience Budget relate to the automatic deferment of income tax payment for companies and a property tax rebate program for qualifying commercial properties.
Read a March 2020 report [PDF 3.9 MB] prepared by the KPMG member firm in Singapore
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.