Singapore Budget Talk 2026 (24 February 2026)
🌿 Securing the future together in a changed world 🌿
Singapore's FY2026 Budget Statement was delivered by Prime Minister and Minister for Finance, Mr Lawrence Wong in Parliament on 12 February 2026. The Budget Speech outlines the government's plans for the year 2026 and the planned changes in the legal and tax environment.
On 24 February 2026, members of BLCC Singapore and Singaporean-German Chamber of Industry and Commerce / AHK Singapur (SGC) had a good overview of the Budget as our 2 distinguished speakers from Luther Rechtsanwaltsgesellschaft mbH LLP presented an informative and insightful overview of the budget by summarizing the main legal and tax changes and how these changes may influence companies and resident individuals in the ongoing calendar year
David Martiny, Head of Tax South-East Asia at Luther Rechtsanwaltsgesellschaft mbH LLP, presented the key budget facts for FY2025 and FY2026, highlighting the key revenue collections and expenditures. In addition, he provided insights on corporate tax exemptions & rebates, Implementation BEPS 2.0, double tax deduction for internationalization, extended and revised tax incentive schemes and individual income tax
Dr. Maximilian Kressner, Attorney-at-Law at Luther Rechtsanwaltsgesellschaft mbH LLP, presented the following non-tax aspects of the Budget
🔹New set of National AI Missions as the Singapore government aims to accelerating AI Adoption by Enterprises while helping workers to adapt and progress
🔹Rise of the local qualifying salary (LLQS) to S$1,800
🔸Extension and enhancements to the Progressive Wage Credit Scheme( to 2028)
🔹Strengthening Assurance for Mid-Career Workers and Seniors
🔸various support for Singaporeans, Households and Seniors
🔹 updates to Foreign Worker Policies, where the minimum qualifying salary has been revised upwards for both employment and S pass
We want to express our heartfelt appreciation to:
🔹 Luther Rechtsanwaltsgesellschaft mbH for sponsoring this highly anticipated event, which members of the 2 chambers look forward to attending each year.
🔸 David Martiny and Dr. Maximilian Kressner for their informative and insightful presentation.
🔹 Francis du Bois de Vroylande, VP of BLCC for the opening welcome and Sabine Florian, Deputy General Manager of SGC for the closing remark.
🔸Singaporean-German Chamber of Industry and Commerce / AHK Singapur in co-organizing the event with BLCC Singapore.
🔸 Members of the 2 chambers for their presence and engaging participation in the Q&A session
#Budget2026 #tax #support
