Singapore Corporate Tax Rate

To encourage local entrepreneurship, Singapore Government has declared a full tax exemption for newly incorporated companies.

NEW START UP COMPANIES

Full tax exemption is granted on the first $100,000 of Chargeable Income for qualifying new companies for the first three years of assessment consecutively.
 (%)
First $100,000
Nil
$100,001 to $300,000
9
Thereafter a Flat Rate of
18

Singapore corporate tax rates for New Start Up

Note: *A qualifying new company must fulfill the following conditions:

  • It is incorporated in Singapore;
  • It is a tax resident of Singapore for that Year of Assessment;
  • It has no more than 20 shareholders throughout the basis period relating to that Year of Assessment;
  • All its shareholders are individuals throughout the basis period relating to that Year of Assessment OR start-up companies with corporate shareholders can qualify for the existing Start-Up Tax Exemption Scheme, provided that there is at least one individual shareholder of minimum 10% shareholding.

Tax Rates for Companies for Year of Assessment 2008 and for those who do not qualify for the New Start up exemption rates

Amount of chargeable income
Effective tax rate
First $10,000
4.5%
Next $290,000
9%
In excess of $300,000
18%


Singapore corporate tax rates for existing companies

Stamp Duty   - Property Transfer  

Value of property
 Rate (%)
First S$180,000
1.0
Next S$180,000
2.0
Thereafter
3.0

 There is no tax in Singapore on Capital Gain.

Tax Incentives


To encourage foreign capital inflow into Singapore, there are tax incentives provided to various industries namely in the form of reduced corporate tax rates

Finance & Treasury Centre Co.
10%
Fund Manager
10%/exempt
Headquarters Co.
10%
International Commodity Trader
10%
Offshore Leasing
10%
Oil Trader
10%
Securities Company
10%/exempt
Trustee Company
10%
Arts & Antique Dealers
10%
Asian Currency Unit
10%/exempt
Insurance & Re-insurance Co.
10%/exempt
Members of Commodity Futures Exchange
10%
Pioneer/Incentive Co.
Exempt/Various
Financial Sector Incentive Co.
5%/10%
Cyber Trader
10%
Commodity Derivatives Trader (New)
5%