What is the corporate profit tax for Singapore companies?
The standard corporate income tax for the year of assessment (YA) 2020 stands at 17% applied on chargeable income of both domestic or foreign companies, subject to exemption as follows:
|Partial tax exemption for companies:|
|Tax exemption for startups meeting certain conditions in the first three consecutive YAs:|
The corporate income tax rebate for YA 2019 is 20% and capped at $10,000. In addition, there is no capital gains or dividend tax in Singapore.