| There has never been a better time than now to | | | | of Assessment. |
| setup your Singapore Company Operation. | | | | New startups will enjoy a full-tax exemption of |
| Singapore declares Zero tax for new company | | | | 100K during the first three years of their business. |
| set up in Singapore. To encourage foreign | | | | Existing companies' Corporate tax rate will drop |
| entrepreneurs to setup their business in | | | | from 20% to 18%. For small-to-midsize |
| Singapore, the Government has declared a full tax | | | | companies, these cuts bring the effective tax |
| exemption for newly incorporated companies. | | | | rate to significantly lower than Honk Kong's and |
| With the introduction of new tax cuts and | | | | make Singapore a very attractive destination for |
| incentives, Singapore has become the best place | | | | incorporating and growing a business. A Singapore |
| to incorporate and operate your business. Newly | | | | company with profits around 300K will now have |
| incorporated Singapore companies will enjoy a | | | | an effective tax rate of only about 9%. |
| full-tax exemption on $100K annual profits during | | | | The attractive tax rates make Singapore one of |
| the first three years of their business. | | | | the lowest tax regimes in Asia after Hong Kong. |
| NEW START UP COMPANIES | | | | Singapore is well on its way to become the best |
| Full tax exemption is granted on the first | | | | place to setup and grow business for global |
| $100,000 of Chargeable Income for qualifying new | | | | entrepreneurs. The government just announced a |
| companies for the first three years of | | | | series of incentives and tax benefits to further |
| assessment consecutively | | | | sharpen the country's competitive edge, making it |
| Income Tax Rates | | | | the most preferred place to do business in the |
| * First $100,000 Nil | | | | world. |
| * The next $100,001 to $300,000 9% | | | | Singapore Company Formation |
| * Thereafter a Flat Rate of 18% | | | | "Singapore is already rated as #1 in the world for |
| Note: *A qualifying new company must fulfill the | | | | ease of doing business. We are excited to see |
| following conditions: | | | | that the government continues to focus on |
| * It is incorporated in Singapore; | | | | globalization, attracting large and small companies, |
| * It is a tax resident of Singapore for | | | | and building a business framework for the future." |
| that Year of Assessment; | | | | said Ragini Dhanvantray, CEO of Rikvin Group, |
| * It has no more than 20 shareholders | | | | Singapore. "Foreign entrepreneurs and companies |
| throughout the basis period relating to that Year | | | | wishing to register a Singapore company can take |
| of Assessment | | | | advantage of Tax exemption. It has never been |
| * All its shareholders are individuals | | | | a better time than now to incorporate your |
| throughout the basis period relating to that Year | | | | Singapore Company. |