Singapore Budget 2026

Prime Minister Lawrence Wong just announced Singapore’s Budget 2026 – which contains several measures that are supportive for Singapore equities, especially when viewed alongside MAS’s recent capital market reform initiatives such as the Equity Market Development Program (“EQDP”), Grant for Equity Market Singapore Scheme (“GEMS”), Value Unlock Package and the SGX-Nasdaq dual-listing bridge.

Beyond cost-of-living support, Budget 2026 includes:

S$1.5 billion top-up to the Financial Sector Development Fund

Budget 2026 tops up the Financial Sector Development Fund by S$1.5 billion, reinforcing MAS’s S$5 billion EQDP launched in 2025.

This has implications such as increased liquidity and market depth, better price discovery and tighter spreads especially in the small-mid cap stocks and enhances investor participation.

Initiatives to improve liquidity and attractive Initial Public Offerings (“IPOs”)

A second S$1.5 billion Anchor Fund tranche (co-invested with Temasek) is set up to support high-growth companies to go public.

Additionally, listing reforms and potential dual-listing bridges (e.g. SGXNasdaq) aims to attract more companies to IPO on SGX.

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Corporate tax rebates and international expansion support

Small and medium enterprises (“SMEs”) and non-SMEs will get up to 50% - 70% funding support.

The Market Readiness Assistance grant will be enhanced to help enterprises access new markets and deepen presence in existing ones.

Companies that list on the SGX can also receive a 20% corporate income tax rebate for primary listings (10% for secondary listings). Companies will also receive a 40% corporate income tax rebate for 2026.

Other significant highlights

• If your Singapore Company employ at least one local worker in 2025, they are eligible for a minimum cash grant of S$1,500.

• Enterprise Innovation Scheme (EIS) Expansion: AI-related expenditures now qualify for a 400% tax deduction (capped at S$50k per Year of Assessment).

• Local Qualifying Salary (LQS): This rises from $1,600 to $1,800 on 1 July 2026.

• Work Visas - EP/S Pass Changes: Note the new minimums (e.g., S$6,000 for new EP application starting Jan 2027). This helps with their 2027 headcount budgeting now.

What’s Your 2026 Action Plan?

The shifts in Budget 2026 mean that the "standard" way of doing business in Singapore is changing. To help our clients stay ahead, we have developed a 2026 Budget Impact Assessment to identify exactly which rebates, grants, and tax incentives apply to your specific industry.

Don't leave your 2026 growth to chance. Contact the Adept for a personalized consultation, and let’s discuss how we can turn these budget updates into a competitive advantage for your company.