Malaysia Hotline : +603-2141 8908
Singapore is often cited as the leading example of countries
that continues to reduce corporate income tax rates and introduce various tax
incentives to attract and keep global investments. With effect from Year of
Assessment 2010, a company is taxed at a flat rate of 17% on its chargeable
income regardless of whether it is a local or foreign company. For YA 2018 to
YA 2019, all companies will be granted a 20% Corporate Income Tax Rebate capped
at $10,000 per YA.
Singapore Income Tax
System
1. Singapore is taxed on the
basis of territoriality. In other words, companies and individuals are taxed
mainly on Singapore sourced income. Foreign sourced income will be taxed when
it is remitted or deemed remitted into Singapore unless the income was already
subjected to taxes in a jurisdiction with headline tax rates of at least 15% or
more.
2. Singapore corporate tax rate is
capped at 17% on its chargeable income.
3. Singapore personal tax rates
start at 0% and are capped at 22% (above S$320,000) for residents and a flat
rate of 15% for non-residents.
4. Singapore does have GST and the
current rate is 7%.
5. Interest, royalties,
rentals from movable properties, management and technical fees, and director’s
fees paid to non-residents (individuals or companies) are subject to
withholding tax in Singapore.
Singapore
Offshore Companies Taxation
1. This
type of companies is referring to non-resident companies.
2.
Company is legally tax exempted if certain criteria are met as show in the
following:
a) The Company has no
office in Singapore (Registered address is not belong company office). The management office is outside of country.
b) No employee is in
Singapore.
c) The company has no
bank account in Singapore. No any income remitted in Singapore.
d)
Revenue incurred
outside of Singapore.
e) Suppliers and
customers are foreign companies. No business conduct in Singapore
**
Kindly consult us for more detail on Singapore Offshore Companies taxation.
Tannet Malaysia is an International Consultant Firm based in
Hong Kong, Shenzhen. We provide variety of services to that investor who wanted
to invest oversea and offshore company incorporation is one of the services. We
offer Samoa, Cayman, Belize, BVI, Dubai, England, Labuan offshore company registration
and etc. Please contact Tannet for more information if you are interested.
Contact
Us
If you have further queries, please
contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
24 hours China hotline：86-755- 36990589;
Email: mytannet@gmail.com
TANNET GROUP: http://www.tannet-group.net ,
http://en.tannet.com.my