Singapore Expats Forum

What is the Business tax rate in SIngapore?

Discuss your views about Singapore business & economy, current policies & issues, starting a business in Singapore.
Rex218
Newbie
Newbie
Posts: 8
Joined: Fri, 19 Sep 2008

What is the Business tax rate in SIngapore?

Postby Rex218 » Mon, 22 Sep 2008 7:41 pm

Is it 20% or 25%?

User avatar
Strong Eagle
Moderator
Moderator
Posts: 10414
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

Postby Strong Eagle » Mon, 22 Sep 2008 7:43 pm

Neither, it is either 17 or 18 percent for 2008.

nhonho_88
Newbie
Newbie
Posts: 19
Joined: Sun, 17 Aug 2008

Postby nhonho_88 » Mon, 22 Sep 2008 9:42 pm

Pretty high here :???:

User avatar
Strong Eagle
Moderator
Moderator
Posts: 10414
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

Postby Strong Eagle » Mon, 22 Sep 2008 11:48 pm

nhonho_88 wrote:Pretty high here :???:


You don't know much. Much higher in the US and Europe. Also much higher in Malaysia and Thailand, where you also have to pay a tax on any money taken out of the country. Singapore is business friendly.
Last edited by Strong Eagle on Tue, 23 Sep 2008 7:27 am, edited 1 time in total.

User avatar
sundaymorningstaple
Moderator
Moderator
Posts: 34270
Joined: Thu, 11 Nov 2004
Location: Still Fishing!
Contact:

Postby sundaymorningstaple » Tue, 23 Sep 2008 12:00 am

Strong Eagle wrote:
nhonho_88 wrote:Pretty high here :???:


You don't know much. Much higher in the US and Europe. Singapore is business friendly.


Most of his/her posts have been like that. Except for the ones in which he resorted to directly advertising which were deleted.

User avatar
saint73
Chatter
Chatter
Posts: 158
Joined: Sat, 23 Dec 2006
Location: SINGAPORE

Re: What is the Business tax rate in SIngapore?

Postby saint73 » Tue, 23 Sep 2008 8:08 pm

Rex218 wrote:Is it 20% or 25%?


Maintain ur biz at 100k profit for ZERO TAX charges.

* Zero tax for new Singapore companies on the first 100K annual profits for the first 3 years

* All companies to enjoy low 9% corporate tax rate for profits up to 300K
* Overall company tax rate lowered to 18%

http://www.asiabizsetup.com/singapore-c ... -2007.aspx

User avatar
sierra2469alpha
Editor
Editor
Posts: 1382
Joined: Tue, 27 Feb 2007
Location: Singapore (Finally!)

Postby sierra2469alpha » Tue, 23 Sep 2008 9:17 pm

Bless why we left Australia!

Myrontay
Newbie
Newbie
Posts: 2
Joined: Fri, 18 Jul 2008
Location: Singapore
Contact:

Postby Myrontay » Tue, 14 Oct 2008 5:47 pm

And you still get tax deductions from renovation expenditure. <a>Tax PDF document</a>.
<a>My Weblog</a>

kudo
Newbie
Newbie
Posts: 5
Joined: Thu, 28 Aug 2008

Postby kudo » Tue, 14 Oct 2008 8:43 pm

I love the no tax for the first 3 years. Will definitely be helpful for startups.

User avatar
Strong Eagle
Moderator
Moderator
Posts: 10414
Joined: Sat, 10 Jul 2004
Location: Off The Red Dot
Contact:

Postby Strong Eagle » Wed, 15 Oct 2008 1:40 pm

kudo wrote:I love the no tax for the first 3 years. Will definitely be helpful for startups.


It is not 'no tax for the first 3 years'. It is no tax on the first $100,000 in profits for the first 3 years. After that there are still additional breaks that drop the 17% actual much lower.

And, as long as you are in line with reasonable fees and salaries you can pay yourself directors fees and/or a solid salary to reduce corporate profits.


  • Similar Topics
    Replies
    Views
    Last post

Return to “Business in Singapore”

Who is online

Users browsing this forum: No registered users and 2 guests