The Central Provident Fund or CPF is a mandatory pension fund scheme applicable for all Singapore citizens and Singapore permanent residents earning
Frequently Asked Questions : Taxation & Accounting
What is the Central Provident Fund (CPF) contribution rate?
The maximum Central Provident Fund (CPF) contribution rate for employer and employee is 16% and 20% respectively and can be lower depending on
What is the corporate tax rate in Singapore?
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
What is the difference between a resident and a non-resident Singapore company?
A Singapore "resident" company is one for which the control and management of the business is exercised in Singapore while a company which is "not
What is Goods & Services Tax (GST)?
Goods and Services Tax (GST) is a tax on the supply of goods and services made in Singapore by a taxable person in the course or furtherance of any
What is Taxable Supply?
A Taxable Supply is a supply of goods and services made in Singapore other than an exempt supply. Goods & Services Tax (GST) is chargeable on a
What is the penalty for the late registration of Goods & Services Tax (GST)?
If you are late in registering for Goods & Services Tax (GST), you will be guilty of an offence and be liable on conviction to a fine up to
What is the registration rule for each type of business engagement to determine my liability to register for Goods & Services Tax (GST)?
Incorporated companies are separate legal entities. The registration liability of an incorporated company will be determined on its own. It is
What is Taxable Turnover?
“Taxable Turnover” is the total value of all taxable supplies made in Singapore (excluding Goods & Services Tax (GST)) in the course of
What is the annual set date for filing individual / personal income tax in Singapore?
The due date or deadline for filing individual taxes or personal income tax is 15 April each year. Late filing or failing to file at all could incur
What is the individual taxation scheme for non-residents?
Non-residents are taxed at a flat rate of 15%.
What are the requirements to register for Goods & Services Tax (GST)?
Goods & Services Tax (GST) is a self-assessed tax. This means that businesses are required to continually assess the need to register for GST.