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Ministry of Finance (MOF)
Parliamentary Replies

Uptake of Alternative Net Tonnage Basis of Taxation Among Qualifying Shipping Enterprises

4 November 2026

Topics

Tax-Related (Corporate Tax)

Tax-Related (Others)

Parliamentary Question by Gho Sze Kee:

To ask the Prime Minister and Minister for Finance (a) how many qualifying shipping enterprises have elected for the alternative net tonnage basis of taxation since its introduction; and (b) what proportion of qualifying shipping enterprises does this represent.

Parliamentary Reply by Second Minister for Finance, Mr Jeffrey Siow:

Since its introduction in 2024, two shipping enterprises have elected for the net tonnage basis of taxation. This represents less than 1% of qualifying shipping enterprises.