{"id":4163,"date":"2020-11-23T15:00:56","date_gmt":"2020-11-23T07:00:56","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/?p=4163"},"modified":"2020-12-14T16:35:18","modified_gmt":"2020-12-14T08:35:18","slug":"singapore-corporate-income-tax-rate","status":"publish","type":"post","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/timcole.com.sg\/singapore-corporate-income-tax-rate\/","title":{"rendered":"Singapore Corporate Income Tax Rate"},"content":{"rendered":"

Singapore\u2019s booming economy and excellent financial hub are part of the reasons why the residents of the country enjoy some special privileges. When it comes to privileges in business, the effective Singapore company tax rates can\u2019t be overlooked. The various tax incentives<\/a> and corporate income tax rates are part of the reasons why foreign investors are trooping into Singapore<\/a>. As you read on, you will find detailed information about the company tax in Singapore<\/a>.<\/p>\n

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Singapore Corporate Income Tax Rate at a Glance<\/h2>\n

Singapore uses a single-tier territorial based corporate income tax system to avoid the issue of double taxation. Under the single-tier corporate income system of taxation, tax won\u2019t be imposed on dividends that companies pay to their shareholders. Also, tax is not levied on capital gains in Singapore.<\/p>\n

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Corporate Income Tax Rates<\/h2>\n

Effective from Year of Assessment 2010, both local<\/a> and foreign companies<\/a> in Singapore are taxed at a 17% flat rate on their chargeable income. The table below shows the previous and present tax rates in Singapore.<\/p>\n\n\n\n\n\n\n
Year of Assessment<\/strong><\/td>\nTax Rate<\/strong><\/td>\n<\/tr>\n
2010 till date<\/td>\n17%<\/td>\n<\/tr>\n
2008 to 2009<\/td>\n18%<\/td>\n<\/tr>\n
2005 to 2007<\/td>\n20%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

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General Tax Incentives<\/h2>\n

While the corporate tax rate remains at a flat rate of 17%, some exemption schemes can help companies lower the effective corporate tax rate<\/a> with proper tax planning<\/a>.<\/p>\n

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Tax Exemption Scheme for New Start-up Companies<\/h2>\n

Any company that is newly incorporated and meets the conditions below can enjoy all the tax exemptions available to new start-up companies<\/a> for the early 3 years of tax assessment. Here are the qualifying conditions:<\/p>\n