A company, regardless of whether it is a local or a foreign company, will be taxed on its:

income accruing in or derived from Singapore; or
income received in Singapore from outside Singapore
Income is assessed on a preceding year basis. This means that the basis period for any Year of Assessment (YA) generally refers to the financial year ending in the year preceding the YA.

Singapore Tax Rate

  1. New Start Up Companies
    To encourage local entrepreneurship, Singapore Government has declared a full tax exemption for newly incorporated companies.

    Chargeable Income for the first 3 years of assessment Tax Rate (%)
    First S$100,000 0
    S$100,000 – S$300,000 8.5
    Thereafter, a flat rate of 17

    Qualifying Conditions for Start-Up Companies The tax exemption is open to all new companies except these two types of companies:
    • A company whose principal activity is that of investment holding; and
    • A company whose principal activity is that of developing properties for sale, investment, or both.
    To qualify for tax exemption for start-ups, eligible companies must satisfy these three qualifying conditions:
    1. The company must be incorporated in Singapore;
    2. The company must be a tax resident in Singapore for that YA;
    3. The company must not have more than 20 shareholders throughout the basis period for that YA where:
    i. all of the shareholders are individuals “beneficially and directly” holding the shares in their own names; or
    ii. at least one shareholder is an individual “beneficially and directly” holding at least 10% of the issued ordinary shares of the company.

  2. For Companies that do not qualify
    Chargeable Income Tax Rate (%)
    First S$10,000 4.5
    Next S$290,000 8.5
    After S$300,000 17

Corporate Tax Filing Deadlines

Filing Deadline Deadline
Estimated Chargeable Income (ECI) 3 months from Financial Year End
Corporate Tax Filing 30 Nov of every year

If you furnish your company’s ECI within the qualifying period, you can pay your tax in installments. The earlier you furnish your ECI, the higher is the number of installments you get.

To encourage you to e-File, with effect from YA 2008, the number of installments given to those who file ECI electronically is more than that given to those who file ECI using paper ECI Forms

Our Corporate Tax Service Fees

Service Fee ($)
Filing of Estimated Chargeable Income (ECI) 50 per year
Un-audited Accounts – Computation + Filing of Form C *800 – 2000 per year
Audited Accounts – Computation + Filing of Form C *1500 – 3000 per year