Singapore

2025 Budget

The 2025 Budget was announced on 18 February 2025.

Individual tax changes proposed include:

• 60% personal income tax (PIT) rebate for resident individuals, capped at 200 Singapore dollars (SGD), for income year 2024 (year of assessment 2025).
• Withdrawal of Central Provident Fund (CPF) Cash Top-Up Relief for CPF top-ups that attract matching grants under the Matched MediSave Scheme (MMSS) from year of assessment 2027.

For details of the 2025 Budget proposals, refer to our 2025 Budget Commentary at www.pwc.com/sg/en/publications/singapore-budget/commentary.html.