Singapore Personal Tax Rates
Singapore’s Personal Income Tax structure is one of the friendliest and most competitive in the world. The tax year is from 1 January to 31 December in each calendar year and income is assessed on a preceding year basis. Singapore Tax adopts a progressive personal tax rates, relative to an individual’s amount of income. This [...]
How are fringe benefits taxed?
Employer-provided fringe benefits are taxed in the employee’s hands. As a number of benefits are taxed on a concessionary basis in Singapore, it is possible to reduce an individual’s tax liability through appropriate structuring of his/her remuneration package.
What is the Singapore income tax rate?
The Singapore individual income tax rates for YA 2007 and onwards are shown below. Singapore individual / personal income taxes are charged progressively (0% – 20%), based on your chargeable income. The chargeable income is your income plus any other personal income, minus all deductions, relief’s and rebates. Chargeable Income (S$) Rate (%) Gross Tax [...]
What should I do now if my company turnover is about to reach 1 million?
You need to assess if your turnover in any past 12 months or the next 12 months is more than S$1 million. If it is, you need to applyfor GST Registration immediately. If it is not, no action is required from you from this point. However, you need to continue to monitor your turnover and [...]
What is Taxable Supply?
A Taxable Supply is a supply of goods and services made in Singapore other than an exempt supply. GST is chargeable on a taxable supply of goods and services made by a taxable person in the course or furtherance of his business. However, any GST incurred by a taxable person on business purchases used in [...]
Are there any Tax Incentives for foreign companies to set up in Singapore?
To encourage foreign capital inflow into Singapore, there are tax incentives provided to various industries namely in the form of reduced corporate tax rates. Finance & Treasury Centre Co. 10% Fund Manager 10%/exempt Headquarters Co. 10% International Commodity Trader 10% Offshore Leasing 10% Oil Trader 10% Securities Company 10%/exempt Trustee Company 10% Arts & Antique [...]
What are the capital gains tax rates in Singapore?
Singapore DOES NOT have a Capital Gains tax.
What is the Stamp Duty Tax for Property Transfer in Singapore?
Value of property Rate (%) First S$180,000 1.0 Next S$180,000 2.0 Thereafter 3.0
Tax Rates for Companies for Year of Assessment 2009
What is the tax Rates for Companies for Year of Assessment 2009 and for those who do not qualify for the New Start up exemption rates? Amount of chargeable income Effective tax rate First S$10,000 4.5% Next S$290,000 8.5% In excess of S$300,000 17%
Who do I file my annual accounts with?
Annual accounts are required to be filed with ACRA (Registrar of Companies) and IRAS (Inland Revenue Authority of Singapore) unless exempted.
