Extending Singapore's Medium-term Fiscal Projections Beyond 2030 with Scenario Modelling of Global Minimum Tax for MNCs

Mr Shawn Loh asked the Prime Minister and Minister for Finance in light of the better-than-expected GDP growth and continued uncertainty over the implementation of global minimum tax rules, whether the Ministry will consider updating its medium-term fiscal projections before Budget 2027 and to (i) extend the projections beyond 2030 and (ii) include different scenarios modelling the responses by MNCs to the global minimum tax.

As indicated during Budget 2026, the Ministry of Finance will publish updated medium-term fiscal projections by next year. We intend to extend the projections to 2035, taking into account the latest revenue expectations and expenditure plans. We will also consider a range of possible scenarios for the implementation of the global minimum tax rules. We intend to publish these projections in the second half of next year. That will give us greater clarity on the impact of global tax changes and allow us to provide a more meaningful assessment of our medium-term revenue and fiscal outlook.