Basic Information on Singapore Corporate Tax

Basic Information on Singapore Corporate Tax Singapore has been widely regarded as a top example of countries that offers reasonable corporate income tax rates. The country continues to reduce Singapore corporate tax rates and offers various tax incentives... More

Basic Information on Singapore Corporate Tax Singapore has been widely regarded as a top example of countries that offers reasonable corporate income tax rates. The country continues to reduce Singapore corporate tax rates and offers various tax incentives to convince and maintain foreign investments. Two major contributors to the growing economy of Singapore are its effective tax rates and pro-business status worldwide. On this part, we will be giving you an overview of the attractive tax schemes and benefits outlined for businesses in Singapore. On January 1, 2003, Singapore has applied a single-tier corporate tax system that assures no double-taxation for shareholders. As a result, tax paid by a company on its chargeable income is the final tax and the dividends provided by a company to its shareholders are exempted from additional taxation. There is also no tax applied on capital gains including sale of fixed assets and gains on foreign exchange on capital transaction in Sing Less