Tax
8 Things To Know About Taxes In Singapore
It’s real headache when it comes to this topic. Let CBO summarize for your easy reference here :
1. Singapore’s Corporate Income Tax is 17%
2. Full exemption for New Startup companies for 1st 3 years of assessment ( YA) up to S$100,000 of Chargeable Income ( CI )
3. 4th YA onwards, Tax Exempt 75% of 1st S$10,000 CI & 50% of next S$290,000 CI
4. Withholding Tax : Royalty & Rights to Use @ 10%, Interest & Commission & Rent @ 15%, Technical Assistance & Management Fee @ 17%
5. Property Tax ( rent or vacant ) @ 10% on Annual Value, Owner occupied @4%
6. No Capital Gains Tax in Spore
7. No Estate Duty or Gift Tax in Spore
8. GST @ 7%
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