What is the corporate tax rate in Singapore?

The corporate income tax rate is flat at 17% in Singapore. For annual taxable profits of up to S$300,000, full tax exemption is available for newly incorporated companies with individual shareholders will be taxed as follows:

  • The first S$100,000 in annual taxable profits will be tax exempt for the first 3 years.
  • The next S$200,000 in annual taxable profits will be taxed at 8.5%.
  • Taxable profits above S$300,000 will be taxed at the flat rate of 17%.

Total tax payable for the first S$300,000 taxable profits is S$17,000, the effective tax rate is 5.67%.

Newly incorporated companies with corporate shareholders or 4th years for companies with individual will be taxed as follows:

  • The first S$300,000 in annual taxable profits will be taxed at 8.5%.
  • Taxable profits above S$300,000 will be taxed at the flat rate of 17%.
Posted in Taxation Left.