Submitted By:
Clarist Zablan
Case Study:
No
Property tax rebates of 30% will be given to hotels, serviced apartments and MICE venues.
Companies in the tourism sector will enjoy various tax rebates for 2020 in light of the economic effects of the COVID-19 outbreak, finance minister Heng Swee Keat said in the Budget 2020 speech.
In particular, 30% property tax rebates will be granted for the accommodation and function room components of licenced hotels and serviced apartments, as well as prescribed meetings, incentives, conventions and exhibition (MICE) venues.
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