How high are the corporate income tax in Singapore?
Corporate income tax is at a flat rate of 17%.
Singapore also has a tax exemption for qualifying companies from 2020 onwards where:
- 75% exemption on the first $10,000 of normal chargeable income
- A further 50% exemption on the next $190,000 of normal chargeable income
What Double-tax treaties has Singapore?
Aimed to identify taxing rights and avoid double taxation, Singapore entered into various Double Taxation Agreements with the ensuing countries:
Albania, Australia, Austria, Bahrain, Bangladesh, Barbados, Belarus, Belgium, Brunei, Bulgaria, Bermuda, Brazil, Cambodia, Canada, China, Cyprus, Czech Republic, Chile, Ecuador, Egypt, Estonia, Ethiopia, Fiji, Finland, France, Georgia, Germany. Ghana, Guernsey, Gabon, Germany, Greece, Hungary, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Indonesia, Japan, Jersey, Kazakhstan, Korea, Kuwait, Kenya, Laos, Latvia, Libya, Liechtenstein, Lithuania, Luxembourg, Malaysia, Malta, Mauritius, Mexico, Mongolia, Morocco, Myanmar, Netherlands, New Zealand, Nigeria, Norway, Oman, Pakistan, Panama, Papua New Guinea, Philippines, Poland, Portugal, Qatar, Romania, Russian Federation, Rwanda, San Marino, Saudi Arabia, Seychelles, Slovak Republic, Slovenia, South Africa, Spain, Sri Lanka, Sweden, Switzerland, Taiwan, Thailand, Tunisia, Turkey, Turkmenistan, Ukraine, United Arab Emirates, United Kingdom, Uruguay, Uzbekistan, and Vietnam
Note: the DTA with Armenia, although signed, is not yet ratified.