Corporate Tax in Singapore

Overview by
Tax Base For Resident and Foreign Companies
There is no tax differential between business carried on in Singapore by residents and by non-residents. Tax is imposed on all income accrued in or derived from Singapore , and all foreign income remitted into Singapore.

Tax Rate

Corporation tax 17%. For more details, visit: Inland Revenue Authority of Singapore
Local taxes Nil
Tax Rate For Foreign Companies
Capital Gains Taxation
There is no capital gains tax in Singapore .
Main Allowable Deductions and Tax Credit
Interest on loans, rent paid on land and buildings, royalty payments, expenses for repairing plant and equipment, defaulted trade receivables, contributions to an approved pension fund or the Central Provident Fund, contributions to employee medical benefit plans up to 1% of total payroll expense, double-tax deductions for approved relocation and recruitment expenses when hiring foreign talent, research and development expenses, cost of building modifications for disabled employees of up to SGD 100,000.
Other Corporate Taxes
Visit the site of Inland Revenue Authority of Singapore.

Country Comparison For Corporate Taxation

  Singapore East Asia & Pacific United States Germany
Number of Payments of Taxes per Year 5.0 24.5 11.0 16.0
Time Taken For Administrative Formalities (Hours) 84.0 218.2 187.0 215.0
Total Share of Taxes (% of Profit) 25.4 35.4 46.8 48.2

Source: Doing Business

Note: *The Greater the Index, the More Transparent the Conditions of Transactions. **The Greater the Index, the More the Manager is Personally Responsible. *** The Greater the Index, the Easier it Will Be For Shareholders to Take Legal Action. **** The Greater the Index, the Higher the Level of Investor Protection.

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  • Healy Consultants

    Company Incorporation, Singapore