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 S$100,000 chargeable profit | Nil |
| S$100,001 to S$300,000 | 8.5 |
| Thereafter a Flat Rate of | 17 |
