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Special Edition Budget Speech Alert

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Special Edition Budget Speech Alert

Our experts' views on today's Budget Speech.

24 Feb 2021 1 min read Special Edition Budget Speech Alert 2021 Article

At a glance

  • The 2021 Budget announced a reduction in corporate income tax (CIT) from 28% to 27% for companies with years of assessment starting from 1 April 2022, aiming to stimulate growth and investment.
  • To implement the CIT reduction, tax incentives, expenditure deductions, and assessed loss offsets will be reduced, broadening the CIT base.
  • The reduction in CIT aims to support financial recovery for companies amid the pandemic, preserve jobs, and create a more competitive investment environment.

Download the PDF to read our experts' views on today's Budget Speech.

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