Tax Exempt Dividends
Capital gains or losses are not taxable or deductible in Singapore. There is allowance for full tax exemption on the first hundred thousand dollars for the first three years of assessment for a new company incorporated in Singapore provided the company is a tax resident of Singapore.
In Singapore the statutory income of year of assessment is based on the assessable income of the preceding year (i.e. accounting year for companies / calendar year for individuals). There are various tax incentives for different industries. The granting of tax incentives is mainly administered by the Economic Development Board (EDB).
Where a tax incentive is granted the company will enjoy the tax incentive for the period granted and its qualifying income will either be exempt from tax or taxed at a lower rate than the corporate tax rate which is currently at 17%.
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