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9 Reasons for Company Incorporation Singapore

Last modified: August 31, 2020
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Tax Exemption Scheme for New Startup Companies

The low tax rates, benefits, exemptions, and rebates induce owners to opt for company incorporation in Singapore.

Singapore startups, in their initial three years, benefit from the startup tax exemption scheme. They get 75% of tax exemption on their first S$100,000 taxable income. Next, S$200,000 gets 50% tax exemption. Their taxable income above S$300,000 is taxed at 17%.

 

Partial Tax Exemption Scheme for Existing Companies

YA 2020 onward:

Existing Singapore companies get 75% of tax exemption on the first $10,000 of normal chargeable income. Next, $190,000 of their normal chargeable income gets 50% of tax exemption.

 

Deduction of Expenses Incurred Before Registering the Business

Normally authorities allow revenue expenses incurred after business starts its activities to be deductible for tax purposes.

However, startups in Singapore can claim their revenue expenses incurred one year before the first day of the financial year in which they earn their first dollar of business receipt as tax-deductible.

 

Corporate Income Tax Rebate

For YA 2020:

Singapore companies can claim a 25% Corporate Income Tax Rebate. The rebate amount is capped at $15,000.

No Tax on Inheritance or Capital Gains

Territorial Taxation System and Lower Tax Rates

2nd Highest Ranked Country for Ease of Doing Business Indicator

A Base to Keep an Eye on Emerging Asian Markets

Immigration Laws Benefiting Qualified Professionals

Singapore is an Entrepot: Bridges East and West

Tough Intellectual Property (IP) Protection Laws

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