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.