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Corporate Tax Guide: Tax Rates in Singapore

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While personal income tax rates in Singapore vary extensively based on income level, the rules shift when it comes to corporate tax rates. All companies in Singapore are required to pay a corporate tax rate of 17% on their chargeable income, and the rate is constant across all income levels - including resident and non-resident companies. 

Another thing you’ll notice about Singapore’s corporate income tax rates is, they are only imposed on profits. Yes, that’s right - companies in Singapore only get to pay a corporate income tax rate of 17% on the profits they make from their business activities - not total revenue. 

Singapore Corporate Tax Rate

Type of Corporate Income Tax Rate
Profits from business activities within Singapore. 17%
Capital gains. 0%
Foreign-sourced income that has already been taxed overseas. 0%

Then get this - although 17% is already a very favorable corporate tax rate, Singapore gives you the chance to reduce your business taxes even further - through its tax rebates and tax exemption schemes, plus capital allowances, deductible business expenses, and tax incentives.

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