Complete to Guide Singapore Corporate Tax and the Rates

Posted by InCorp Global on January 29th, 2020

Singapore Corporate Tax Rates for New Startups

To qualify for Start-up Tax Exemption (SUTE):

* The company must have no more than 20 individual shareholders
* For corporate shareholders, one individual must hold at least 10% of the issued shares
* Property and investment holding companies are not eligible

Full Exemption for New Startup Companies – for First 3 Years of Assessment

The effective tax rates are:

  YA 2018
Chargeable Income ($)Estimated Tax (S$)*Effective tax rate
100,00000%
200,0005,1002.55%
300,00010,2003.40%
400,00020,4005.10%
500,00036,0007.20%
1,000,000121,00012.10%
2,000,000291,00014.55%
3,000,000461,00015.37%
5,000,000801,00016.02%
10,000,0001,651,00016.51%
  YA 2019
Chargeable Income ($)Estimated Tax (S$)*Effective tax rate
100,000 4250 4.25%
200,00012,750 6.38%
300,00029,750 9.92%
400,00046,750 11.69%
500,00063,750 12.75%
1,000,000148,750 14.88%
2,000,000318,750 15.94%
3,000,000488,750 16.29%
5,000,000828,750 16.58%
10,000,0001,678,750 16.79%

Read more about Singapore Corporate Tax at Rikvin.com.


InCorp Global

About the Author

InCorp Global
Joined: January 15th, 2020
Articles Posted: 26

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