Corporate Income Tax Rate

Year of Assessment
(YA)

Tax rate

Tax exemption/ rebate

2013 and subsequent YAs

17%

Partial tax exemption and tax exemption scheme for new start-up companies

Companies can enjoy the partial tax exemption and tax exemption for new start-up companies, as provided in the tables below.

Partial tax exemption for companies (from YA 2020)

Chargeable income	% exempted from Tax	Amount exempted from Tax
First $10,000	@75%	=$7,500
Next $190,000	@50%	=$95,000
Total $200,000		=$102,500

Tax exemption scheme for new start-up companies

(where any of the first 3 YAs falls in or after YA 2020)

Chargeable income	% exempted from Tax	Amount exempted from Tax
First $100,000	@75%	=$75,000
Next $100,000	@50%	=$50,000
Total $200,000		=$125,000

Singapore FOZL Group Pte. Ltd.
Accounting and Corporate Regulatory Authority of Singapore licensed corporate advisory firm.
Singapore Company Registration, Annual Return, Accounting & Tax
Trademark Registration, Corporate Advisory, Serviced Offices.
6 Raffles Quay，#14-02- #14-06， Singapore 048580

Partial Tax Exemption

Taxable Income

Relevant Knowledge

【Licensing】Food Import Licence

All companies wishing to import, export, or trans-ship food products must be registered and licensed by the Singapore Food Authority in accordance with the relevant laws of Singapore.

【Licensing】Custom Registration

Companies registered in Singapore can directly engage in international trade. If a company intends to import products into Singapore, the goods must undergo customs clearance upon arrival. This requires the company to submit an application to Singapore Customs in advance and obtain the necessary registration or permits. Once the customs registration is approved, logistics companies or customs brokers can declare the goods to Singapore Customs on behalf of your company, pay Goods and Services Tax (GST), and import the goods into Singapore.

【Licensing】13R & 13X

For investments in Asia and the Pacific, Singapore is an important base for family offices, private equity, real estate, and hedge fund managers.

【Licensing】Ship Registration

The Singapore ship registration system is administered by the Maritime and Port Authority of Singapore (MPA). The following outlines the eligibility, procedures, and documentation requirements for registering a vessel in Singapore.

【Licensing】Fund Management Licence