Corporate Tax

With effect from YA 2010, companies setup in Singapore are subjected to a tax rate of 17% on its chargeable income.  Income is taxable when it is accrued in or derived from Singapore or received in Singapore from outside Singapore.

• Gains or profits from any trade or business
• Income from an investment such as interest and rental property income
• Royalties, premiums and any other profits from property
• Other gains that are considered revenue

Tax Return Filing

To complete corporate tax returns, a company must file their ECI and Form C or Form C-S to IRAS

Estimated Chargeable Income (ECI)

ECI is a company’s taxable income after deducting tax-allowable expenses and is due within 3 months of the company’s financial year-end

Form C or Form C-S

Form C or Form C-S is where a company declares its actual income for the tax year. A Form C filing requires companies to attach tax computations, financial statements, detailed profit & loss statement, and other supporting documents. Form C need to be file by November 30 for paper filing or December 15 for electronic filing

Corporate Tax Rates for New Start-up Companies

• Any newly incorporated company in Singapore that meets the qualifying conditions will get to enjoy the tax exemption for new start-up.
• Be tax resident in Singapore
• Possesses not more than 20 shareholders with at least one of the shareholders being an individual shareholder holding at least 10% of ordinary shares.
• Company principal activity is not an investment holding, property development for sale, for investment, or for both investment and sale

How can we help?

Acceserv Pte.Limited is always here to provide you with more information or answer any questions you may have and create a custom solution for your corporate needs.