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Singapore Corporate Income Tax

The tasks of tax planning, computation, optimization and filing of tax are not the easy feats to accomplish. These require in-depth knowledge of statutory laws and regulations along with industry specific experience. Plan & Pay Tax in Singapore wisely with the help of our expert tax consultants. Our Fees are Affordable & Services are Incredible!

Corporate Tax Services Singapore

Singapore is often picked as one of the low tax jurisdictions of Southeast Asia. The nation continues to woo the investors and entrepreneurs from across the globe to incorporate a company in order to enhance its economy. Singapore follows one-tier territorial-based tax system. Essentially, the headline corporate tax rate of Singapore is capped at 17%, one of the lowest in the world.

The progressive tax regime of the city-state has a series of tax incentives for the companies, including start-ups and existing companies. Most importantly, the effective income tax rate for companies in Singapore is reduced significantly.

Full Exemption Scheme for Start-up Businesses

Under this attractive scheme, the corporate income tax rate is 0% on the first S$100,000 taxable net income for each of the first three financial years for a start-up company that meets the following conditions:

  • The company is incorporated in Singapore
  • It is a tax resident in Singapore
  • It has no more than 20 shareholders of which at least one is an individual shareholder holding at least 10% of its shares.

Partial Tax Exemption Scheme:

Each Singapore-based company is eligible to enjoy the Partial Tax Exemption Scheme. The companies having taxable net income between $100,001 – S$300,000 is taxed at 8.5% tax rate. And, the normal headline corporate tax rate of 17% will apply to the companies with the taxable net income above S$300,000.

The above-stated incentives (tax rates) are illustrated in the following table:

ANNUAL TAXABLE INCOME (S$)

TAX RATE (%)

0 – 100,0000

0

100,001 – 300,000

8.5

300,001 – 2,000,000

17

Corporate Income Tax (CIT) Rebate for YA 2016 & YA 2017

In Singapore, every company is eligible to claim corporate income tax rebate of up to the threshold set by the authority. According to the Singapore Budget 2016, a Singapore company can claim a one-time CIT Rebate of 50% on corporate tax payable for the YA 2016 & 2017. The amount is subject to a cap of S$20,000.

How Can We Help you?

In Singapore, the Corporate Income tax filing due dates for companies are November 30 (paper-filing) and December 15 (e-filing).

Our tax consultant will file a set of returns including Form C, audited/unaudited accounts, and tax computation with IRAS, on your behalf. They are also open to offering FREE Tax advice & consultation services to our clients. Using the huge base of knowledge, and years of industry-wide experience, we help the clients to minimize their tax liabilities while maximizing the tax incentives in a legal manner.

For more details or quotation, feel free to drop an email or call us.

Our Fee Structure

For NIL ECI if the company is dormant S$100 Per Filing
For ECI – low volume transactions S$200 Per Filing
For ECI -for medium volume transactions S$350 Per Filing
For ECI -for high volume transactions S$450 Per Filing
For Form C (depends of volume of transactions) S$300-S$1050 Per Filing
For Form C-S (depends of volume of transactions) S$300-S$750 Per Filing
For PIC claims S$450-S$2000 Per Filing
For withholding tax filing (each form basis) S$250 Per Filing

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