Annual accounts are required to be filed with ACRA (Accounting & Corporate Regulatory Authority) and IRAS (Inland Revenue Authority of Singapore) unless exempted.
Taxation & Accounting FAQs / Singapore Corporate Tax
The current headline corporate tax rate in Singapore is a flat 17%. Full and partial tax exemptions are available for taxable income of up to S$300,000. For a detailed guide and breakdown of Singapore’s corporate tax, please refer to our Singapore Corporate Tax Guide.
A Singapore “resident” company is one for which the control and management of the business is exercised in Singapore. This means that a company which is not resident in Singapore will not be subject to its taxation system in Singapore e.g. branch office of a Foreign Company. Because of certain…Read More
You can claim deduction for expenses that are incurred in the production of income. It must also be revenue in nature; the deduction must not be prohibited under the Income Tax Act; and the expenses must be incurred. Examples of deductible and not deductible expenses: Deductible expenses Not deductible expenses…Read More
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…Read More
There is no tax in Singapore on Capital Gain.