Business income is taxed at flat corporate tax rates of 17%.
Overview of Corporate Tax
Basic Taxable Income
- Any income that is "accrued" or received in Singapore by a
company is liable to tax.
- The company may be incorporated or registered in Singapore
- Capital gains are not subject to tax. For instance, if a
trading company sells the office property, the profit on sale of
the property is not subject to tax.
Dividend to Shareholders Exempted for Tax
- Singapore resident companies can issue exempt dividends,
i.e. shareholders will not be taxed on such dividend income.