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Budget 2025: Corporate tax windfall provides cushion, but strengthening the base is key
A diversified tax strategy and creative solutions are needed amid global uncertainties and unpredictable market conditions.
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It is of paramount importance that we should constantly be on the lookout for creative tax strategies, says the writer.
ST PHOTO: LIM YAOHUI
Simon Poh
Amid the flurry of giveaways, Prime Minister Lawrence Wong left one significant announcement late in his Budget 2025 statement on Feb 18.
A Budget surplus of $6.4 billion or 0.9 per cent of Singapore’s gross domestic product is expected for financial year 2024. This very comfortable fiscal position is expected to continue with a similar projection of $6.8 billion surplus in FY2025.
