Tax Rates on Income

Companies

Trading profits and other income of Singapore resident business trusts and resident and non-resident companies and branches are taxed at the corporate tax rate.
The corporate tax rate for 2024 (YA 2025) is 17%.

Under Singapore's start-up tax exemption (SUTE) scheme, newly incorporated companies may qualify for tax exemption on the first S$100,000 and one-half of the following S$200,000 of their normal chargeable income in each of their first three consecutive years. To qualify for this exemption, a company must meet the following conditions:

• it must be incorporated in Singapore

• it must be a tax resident of Singapore for the year of assessment of claim

• it must have no more than 20 shareholders throughout the basis period for that year of assessment, and

• it must have at least one individual shareholder with a minimum of 10% shareholding.

Property developer companies and investment holding companies incorporated on or after 26 February 2013 are excluded from the SUTE scheme.