Singapore is lauded for the low corporate tax rates and incentives for foreign entrepreneurs that make it a corporate tax haven. With a team of highly qualified professionals, we assist entrepreneurs in navigating Sinagpore’s tax regime.
Corporate Tax Compliance Services in Singapore
We provide a plethora of Tax Compliance and Tax Advisory Services to foreign companies doing business in Singapore.
Singapore Corporate Tax Rates
Singapore has a single-tier tax system, with a corporate tax rate of 17%, which is significantly lower than the global average corporate tax rate of 23.79%.
| Tax rate on corporate income | 17% (flat-rate) |
| Tax rate on capital gains by the company | 0% |
| Tax rate on dividends distributed to shareholders | 0% |
| Tax rate on foreign-sourced income that was already subjected to taxation overseas | 0% |
Singapore Corporate Tax Incentives and Exemptions
Partial Tax Exemption
| Chargeable Income | % exempted from Tax | Amount exempted from Tax |
| First S$10,000 | 75% | S$7,500 |
| Next S$190,000 | 50% | S$95,000 |
| Total S$200,000 | S$102,500 |
Source: Inland Revenue Authority of Singapore (IRAS)
Tax Emption Scheme for New Start-up Companies (for the first 3 years)
If you’re planning to incorporate a start-up in Singapore, there is a tax exemption scheme exclusively for you:
| Chargeable Income | % exempted from Tax | Amount exempted from Tax |
| First S$100,000 | 75% | S$75,000 |
| Next S$100,000 | 50% | S$50,000 |
| Total S$200,000 | S$125,000 |
Source: Inland Revenue Authority of Singapore (IRAS)
Industry-specific and special purpose tax incentives
Specific industries are granted special tax incentives. These industries include:
- Investment Holding Companies
- Shipping Companies,
- Constructions Companies,
- Property Developers,
- and more!
Simply contact us and we’ll give you a list of tax exemptions and incentives your company is eligible for.
Singapore Tax Treaties
With more than 20 Free Trade Agreements (FTAs) and more than 80 Avoidance of Double Taxation Agreements (DTAs), Singapore is ideal for foreign entrepreneurs looking to start a business with minimised tax barriers.
Singapore Corporate Tax Filing
If tax filing is intimidating for you, let us play to our strengths and delegate tax compliance to us so you can focus on growing your business.
FAQs on Singapore Corporate Tax
- Singapore is classified as a tax haven because it provides tax breaks to non-resident foreign corporations. The government has been successful in attracting foreign investors not only by providing massive tax breaks and a favourable business environment but also by enacting favourable immigration policies.
- While corporate tax rates can’t be avoided, you could further reduce Singapore’s already low corporate tax rate by taking advantage of various grants and schemes available in the city-state.
Some schemes include:
- Partial Tax Exemption (PTE)
- Start-up Tax Exemption Scheme (SUTE)
- Transfer pricing is the pricing of goods, services and intangibles between related parties.
It is important as it is used to establish prices for goods and services exchanged between subsidiary companies within the same enterprise. Transfer pricing may result in tax savings for businesses.