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Higher energy and logistics costs will continue to be felt by businesses across the economy for some time, with SMEs particularly vulnerable, said Mr Siow.<\/p>\n
To help businesses manage cashflow, the corporate income tax rebate announced at Budget 2026 will be raised from 40 per cent to 50 per cent for the Year of Assessment 2026.<\/p>\n
The minimum benefit for companies with at least one local employee will also be raised from S$1,500 to S$2,000 (US$1,170 to US$1,560), and the total benefits cap per company will increase from S$30,000 to S$40,000.<\/p>\n
\u201cWe will disburse this enhancement quickly \u2013 as early as the end of this month,\u201d said Mr Siow.<\/p>\n
Support will also be extended to businesses seeking to build longer-term resilience against high energy prices.\u00a0<\/p>\n
\u201cBusinesses that invest in energy efficiency will reduce their exposure to volatile energy prices and lower their long-run operating costs,\u201d he said.<\/p>\n
The Energy Efficiency Grant \u2013 a subsidy for businesses to purchase energy-saving equipment \u2013 will be extended to all sectors for another year, to Mar 31, 2028. The grant currently applies to six designated sectors: food services, retail, manufacturing, construction, maritime and data centres.<\/p>\n<\/div>\n