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Income Tax For Sole-Proprietors and Individual

Sole-proprietors are considered "self-employed". The business income is treated as part of your total personal income and taxed at personal income tax rates.

Overview of Personal Tax

Taxable Income

  • Any income that is "accrued" or received in Singapore by a person or business is subject to income tax.
  • Taxable income includes income from your business, salary from employment, interest earned on your deposits and rental income.

Capital Gains

  • Capital gains are not subject to tax.
  • For instance, if you buy and sell shares at a profit, the profit is not subject to tax.

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