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Tax incentives in Singapore.

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Corporate Tax Exemption / Tax benefits for new companies in Singapore / tax incentives for new companies / tax incentives for old companies in Singapore:

With effect from YA 2010, a company is taxed at a flat rate of 17% on its chargeable income regardless of whether it is a local or foreign company.

1)  Tax Exemption Scheme for New Start-Up Companies:

Under the scheme, qualifying new companies are given the following tax exemption for the first three consecutive YAs (Year of Assessment) where the YA falls in
Year of Assessment (YA)Exemption on normal chargeable income
YA 2020 onwards75% exemption on the first $100,000
YA 2010 to 2019Full exemption on the first $100,000
A further 50% exemption on the next $200,000

 

2)  Partial Tax Exemption for all companies:

All companies including companies limited by guarantee can enjoy the following tax exemption:
Year of Assessment (YA)Exemption on normal chargeable income
YA 2020 onwards75% exemption on the first $10,000
A further 50% exemption on the next $190,000
YA 2010 to 201975% tax exemption on the first $10,000
A further 50% exemption on the next $290,000