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Corporate Income Tax (CIT) Rate. Your company is taxed at a flat rate of 17% of its chargeable income. This applies to both local and foreign companies. CIT Rebate for the Year of Assessment ("YA") 2024 and a CIT Rebate Cash Grant. [UPDATED!]
A basic guide to learn about Corporate Income Tax in Singapore e.g. tax rates, Year of Assessment, filing obligations, and tips for new companies.
Corporate tax rates table. KPMG’s corporate tax table provides a view of corporate tax rates around the world. Use our interactive Tax rates tool to compare tax rates by country or region.
May 30, 2024 · Tax on corporate income is imposed at a flat rate of 17%. A partial tax exemption and a three-year start-up tax exemption for qualifying start-up companies are available. Partial tax exemption (income taxable at normal rate):
Mar 11, 2024 · How Much Is The Corporate Tax In Singapore? The corporate tax rate for both local and foreign companies in Singapore is a flat 17%. This is chargeable on a company’s income (or profits). As Singapore operates on a one-tier corporate tax system, this is the only corporate tax levied on companies.
Income derived by companies in Singapore is taxed at a flat rate of 17%. The start-up tax exemption scheme encourages entrepreneurship by providing newly incorporated companies some exemption on their taxable profits in their first three years of operation.
Dec 3, 2019 · Singapore’s corporate tax rate is a flat 17%. In simple arithmetic terms, if a company’s taxable income is SGD 200,000 and its deductible expenses amount to SGD 180,000, its chargeable income would work out to be SGD 20,000. The tax payable before tax rebate would then be 17% x SGD 20,000 which comes up to SGD 3,400.
