To encourage local entrepreneurship, Singapore Government has declared a full tax exemption for newly incorporated companies: NEW START UP
Frequently Asked Questions : Taxation & Accounting
What business expenses are deductible?
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
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.
What is an Exempt Supply?
There are two broad categories of exempt supply. They include the sale and lease of residential properties and financial services specified in
What are the common mistakes made by corporate taxpayers?
Understatement of income Businesses should properly account for all the earnings and invoices issued for goods sold or services rendered. Omission
What are the capital gain tax rates in Singapore?
There is no tax in Singapore on Capital Gain.
What are the conditions for voluntary Goods & Services Tax (GST) registration?
Voluntary Goods & Services Tax (GST) registration is allowed if: Your annual turnover is not more than $1 million; You only supply goods
What are the personal taxes that I will have to pay based on my declared salary?
As a Singapore Permanent Resident (SPR), you will be considered a tax resident. You may refer to the Rikvin resource page for Singapore Personal Taxes
If my company does not qualify for full tax exemption, is there any other tax exemption we can get?
Companies that do not meet the qualifying conditions for SUTE would still be eligible for partial tax exemption. Partial tax exemption is given to
Is filing a tax return necessary if my company did not gain any profits for the year?
Yes. Singapore companies are required to file a tax return annually.
If I am liable to register for Goods & Services Tax (GST), can I choose the date that I want to commence registration?
Once you are liable to register, you are required to inform the Comptroller for Goods & Services Tax (GST) within 30 days from the date your
Can I charge GST if I am unable to submit the Form GST F1 on time?
You can only start charging Goods and Services Tax (GST) after you have submitted your Form GST F1 (Application for Goods and Services Tax