Budget 2026: MNC tax rates to be raised to 15%

Singapore anticipates higher spending on healthcare and infrastructure.

Singapore is raising the effective tax rate of large multinational corporations operating in Singapore to 15% under the pillar two implementation of the Base Erosion and Profit Shifting (BEPS) Pillar Two.

“We expect higher corporate tax collections from FY2027 onwards,” Prime Minister Lawrence Wong said on 12 February.

Wong recognized that other countries are “rolling out generous incentives to re-shore and onshore major investments” and shared plans to strengthen Singapore’s investment promotion.

“That’s one reason why MPI expenditure has risen sharply in this budget, and why it is likely to remain elevated in the years ahead,” Wong said.

The higher tax rate will come in tandem to the government increasing spending on multiple fonts, such as overseas partnerships for external relations and security, healthcare, and infrastructure investments.

“We will make further top ups to relevant funds to support the development of Changi Airport as well as our longer-term economic strategies,” Wong said.

Singapore is also anticipating higher healthcare spending, with Wong saying that the GST rate increase will “provide” for this.

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