If you’re planning to or already registered your company in Singapore, you’re required to file your corporate tax according to the country’s regulations. Engage our Singapore corporate tax filing services for strategic tax planning.
Many investors choose Singapore to start their company as the country is a tax haven jurisdiction. The low corporate tax rate of 17% and business-friendly taxation policies make Singapore an attractive destination for businesses.
NEW START-UP TAX EXEMPTIONS IN SINGAPORE
Just started your new Singapore company? Tap on the new Tax Exemption Scheme to enjoy tax-free operations for the first 3 Year of Assessment (YA). You can also continue to enjoy Partial Tax Exemption (PTE) from the fourth year onwards.
Here’s what you need to know.
Singapore Corporate Tax Rate
The Singapore corporate tax rate is at 17%. This is a flat rate on chargeable income, regardless of whether it is a local or foreign company
Requirements for the Company Tax Exemption Scheme
To qualify for the tax exemption, the company must:
Be incorporated in Singapore
Be a tax resident in Singapore for the Year Assessed
Have no more than 20 shareholders throughout the basis period of the Year Assessed
Have its shareholders beneficially and directly holding the issuing shares in their own names OR have at least one shareholder beneficially and directly holding at least 10% of the issued ordinary shares of the company
Company Tax Exemption Scheme for New Startup Companies
If your company satisfies the qualifying conditions, you are eligible for the tax exemption scheme. You can claim a 75% tax exemption on the first S$100,000 and a 50% tax exemption on the next S$100,000 of normal chargeable income for each of the first 3 consecutive years of assessment.
Hear directly from our clients to learn more about the good work done.
PHP had given me a very practical solution for setting up my business by explaining all aspects of incorporation to me in a very clear and concise manner. PHP helped me throughout the entire incorporation process with corporate secretary services and have a good knowledge of information relevant to running a business in Singapore.
I originally approached Paul Hype Page for advise on the process to register a business in Singapore, as well as the application of EntrePass.
The overall process was good, it was smooth and I am excited to work in Singapore. Thank you Paul Hype Page!
Moving to a new country is not always easy. But now, I get to join my sponsor and have a job I always dreamed about in Singapore through the Dependent Pass with LOC. All this and more was possible because of Paul Hype Page’s guidance. Thank you.
I am really happy with Paul Hype Page's expertise and professionalism so I regularly recommend Paul Hype Page to my contacts
Setting up a success business was important to us. We needed to work with a consultant who could provide unmatched service in the industry. It was challenging, especially not being from Singapore, we didn’t know where to begin, but we found everything that we needed and so much more in Paul Hype Page & Co’s team.
Aside from their clear prices and professionalism, the most impressive part about Paul Hype Page is having a consultant to follow up my case so I could always text him about the progress and updates of my application and incorporation.
All Paul Hype Page personnel have been extremely helpful, responsive and knowledgeable. My EP processes is smooth, fast and very convenient.
AEB is a global enterprise with over 5,000 customers in Europe, Asia, and North America.
We have been working with Paul Hype Page for the past 4 years. Very professional team. We have had a very good experience with them. Highly professional secretarial services.
Eric helped us with setting up and application of EP. Highly recommend.
For the last 5 years, I have been using Paul Hype Page's services and I am satisfied...