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Tax Rates And Exemptions

Tax Rates:

  • From YA 2010 onwards, companies will be taxed at 17%.
  • For taxable income below $300,000, Singapore companies are entitled for tax exemptions as low as 5.6%-8.5%.

Tax Exemptions

  Tax Rate
Tax rate on start-up companies for taxable income up to SGD 100,000 0% *
Tax rate on corporate profits for up to SGD300,000 8.50%
Tax rate on corporate profits above SGD 300,000 17%
Tax rate on capital gains accrued by the company 0%
Tax rate on post-tax profits (i.e. dividends) distribution to shareholder 0%
Tax rate on foreign-sourced income not brought into Singapore 0%
Tax rate on foreign-sourced income brought into Singapore 0 – 17% *

* subject to condition

Tax Exemption For Foreign-Sourced Income*

Foreign-sourced dividends, foreign branch profits and foreign-sourced service income remitted into Singapore on or after 1 June 2003 by a Singapore resident company will be tax exempt if:

  • the headline tax rate of the foreign country from which income is received from is at least 15% in the year the income is received; and
  • the foreign income had been subjected to tax in the foreign country from which they were received.

*Note: This is a simplified explanation of tax exemptions. You should consult with IRAS or your tax accountant to fully understand how and when the exemptions apply.


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