Singapore Corporate Taxation Encourages the Business Environment of the Nation
The competitive Singapore corporate tax system has been instrumental in giving the business-friendliness of the country a huge boost, says the taxation expert of Singapore, SBS Consulting.
One of the pivotal reasons of Singapore’s ability to attract foreign businessmen and investors has been the highly competitive corporate income tax rates of the nation. The Singapore taxation system has allowed the local and foreign entrepreneurs to thrive and grow in the country. Apart from the corporate income tax rates of Singapore being low, the plethora of benefits that the companies here enjoy makes the country an ideal business hub.
“The corporate income tax Singapore has opened a new horizon in the economic scenario of the nation. The company tax Singapore has not just benefited the established business entities but also has enabled the small and medium sized enterprises to flourish despite their relatively low capital and resources,” said the business head of taxation Singapore specialist, SBS Consulting.
The Singapore corporate tax rate 2013 currently stands at a flat 17%. Furthermore, the corporate tax Singapore allows the newly incorporated companies to pay 0% Singapore company tax on their first S$100,000 taxable income and 50% tax deduction on their next S$200,000 chargeable income subject to a cap of S$300,000.
SBS Consulting, which has been in the field of corporate tax services, has earned a respectable name for itself in the market with its end-to-end tax and other corporate services including company incorporation in Singapore. Its expert tax professionals calculate income tax rates for its clients, involve in Singapore tax planning for the clients and take care of all the tax payments Singapore that companies have to comply as per the jurisdiction of the Inland Revenue Authority Singapore (IRAS).
In addition to the corporate tax services Singapore, the firm also has expertise in GST Singapore, whereby it guides the Singapore companies to voluntarily register for the goods and services tax of the country to avail attractive benefits offered by the progressive tax regime of the nation.