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Partial Tax Exemption

Partial Income tax Exemptions

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

Partial tax exemption for companies (YA 2019 and before)

Chargeable income	% exempted from Tax	Amount exempted from Tax
First $10,000	@75%	=$7,500
Next $290,000	@50%	=$145,000
Total $300,000		=$152,500

Tax exemption scheme for new start-up companies (where any of the first 3 YAs falls in or before YA 2019)

Chargeable income	% exempted from Tax	Amount exempted from Tax
First $100,000	@100%	=$100,000
Next $200,000	@50%	=$100,000
Total $300,000		=$200,000

Corporate Income Tax (CIT) Rebate for YAs 2013 to 2020

The table below summarises the CIT rebate percentage and cap given for companies*.

Year of Assessment (YA)	Corporate Income Tax Rebate	Capped at
^New! 2020	25%	$15,000
2019	20%	$10,000
2018	40%	$15,000
2017	50%	$25,000
2016	50%	$20,000
2013 to 2015	30%	$30,000

The rebate will not apply to income derived by a non-resident company that is subject to final withholding tax.

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

Foreign-Sourced Income

Corporate Income Tax Rate

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