• Proserv Consultancy Pte Ltd
  • Proserv Consultancy Pte Ltd
  • Proserv Consultancy Pte Ltd
  • Proserv Consultancy Pte Ltd

Singapore Company Taxation

Singapore's tax structure favours enterprise and business, with one of the lowest corporate tax rates in the world. A host of tax schemes and incentives are in place to help companies grow their businesses.

Scope of Income Tax

Singapore taxes on a territorial basis. A company, regardless of whether it is a local or a foreign company, will be taxed on its:

  • income accruing in or derived from Singapore; or
  • income earned outside Singapore and received in Singapore;

Key Features

Corporate income tax 17%
Capital Gains Not taxable
Withholding Tax:


Certain other payments to non-residents e.g. technical assistance fees & management fees

Not taxable

Corporate income tax rate
Carry forward of Net Operating Losses (years) Unlimited
Carry back of Net Operating Losses (years) Companies can carry back losses of up to S$100,000 from one year back, with effect from year of assessment 2006

Singapore Corporate Tax Rate (YA 2010 onwards)

To encourage local entrepreneurship, Singapore Government has declared a full tax exemption for qualifying, newly incorporated companies as follows:

Full tax exemption is granted on the first $100,000 of Normal Chargeable Income for qualifying new companies for the first 3 consecutive years of assessment (YAs).

First $100,000 – 100% exemption Nil
$100,001 to $300,000 – 50% exemption 8.5%
Thereafter a Flat Rate of 17%