Singapore’s corporate tax rate of 17% is one of the most competitive in Asia. For SMEs and newly incorporated companies, there are additional exemptions that can significantly reduce your effective tax rate.
Start-up Tax Exemption (SUTE)
For the first three years of assessment, qualifying new companies enjoy:
- 75% exemption on the first S$100,000 of chargeable income
- 50% exemption on the next S$100,000
This means the effective rate on the first S$200,000 can be as low as 4.25%.
GST Registration
Companies must register for GST once their taxable turnover exceeds S$1 million in a 12-month period. Voluntary registration is also available and may be advantageous depending on your business model.
Key Filing Deadlines
| Obligation | Deadline |
|---|---|
| Estimated Chargeable Income (ECI) | 3 months after financial year end |
| Corporate Income Tax Return (Form C-S/C) | 30 November each year |
| GST Returns | Within 1 month after each accounting period |
Wisecorp’s tax specialists handle all filings and keep you updated on legislative changes. Contact us for a consultation.