Published:
Government to spend $560mn to aid SMEs
One of measures the government will provide for SMEs is the 20% corporate income tax rebate.
According to the Budget 2011, many companies have seen significant cost pressures in the last year. The government will then provide a set of one-off measures for companies this year.
20% corporate income tax rebate, capped at $10,000 for YA 2011; or
SME Cash Grant amounting to 5% of their revenues in YA2011, subject to a cap of $5,000. This is meant to help small companies which may not benefit fully from the corporate tax rebate as they pay very little taxes. To qualify, these companies must have made CPF contributions in YA2011.
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