CORPORATE TAXATION

Singapore Company Taxation

Singapore's tax structure favours enterprise and business, with one of the lowest corporate tax rates in the world. A host of tax schemes and incentives are in place to help companies grow their businesses.

Scope of Income Tax

Singapore taxes on a territorial basis. A company, regardless of whether it is a local or a foreign company, will be taxed on its:

  • income accruing in or derived from Singapore; or
  • income earned outside Singapore and received in Singapore;

Key Features

Corporate income tax17%
Capital GainsNot taxable
Withholding Tax:Dividends
Interest
RoyaltiesCertain other payments to non-residents e.g. technical assistance fees & management fees
Not taxable
15%
10%Corporate income tax rate
Carry forward of Net Operating Losses (years)Unlimited
Carry back of Net Operating Losses (years)Companies can carry back losses of up to S$100,000 from one year back, with effect from year of assessment 2006

Singapore Corporate Tax Rate (YA 2010 onwards)

To encourage local entrepreneurship, Singapore Government has declared a full tax exemption for qualifying, newly incorporated companies as follows:

Full tax exemption is granted on the first $100,000 of Normal Chargeable Income for qualifying new companies for the first 3 consecutive years of assessment (YAs).

First $100,000 – 100% exemptionNil
$100,001 to $300,000 – 50% exemption8.5%
Thereafter a Flat Rate of17%
 

Please feel free to contact us at +65 6423 1078 / 9488 5722 or drop in an email at kali@gagrp.com

Contact person:

Mr. Kaliyaperumal Jayaram

Finance & Operations Manager

The GA Group Pte Ltd

+65 9488 5722 (Mobile) / 6423 1078 (Office)

kali@gagrp.com

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