| From 2010 |
17%
|
Partial tax exemption and tax exemption scheme for new start-up companies
Companies, including companies limited by guarantee with effect from YA 2010, will continue to enjoy the partial tax exemption and tax exemption for new start-up companies, as provided in YA 2008 and YA 2009.
However, the tax exemption scheme for new start-up companies will not be extended to investment holding companies and companies engaged in property development activities that are incorporated after 25 Feb 2013 New!. These companies will still enjoy the partial tax exemption. Please refer to Tax exemption scheme for new start-up companies for details and the qualifying conditions.
YA 2013, YA 2014 and 2015 New!
Companies will be granted a 30% Corporate Income Tax (CIT) Rebate capped at $30,000 for each YA.
YA 2012
For YA 2012, companies will be granted a one-off 5% SME Cash Grant.
YA 2011
For YA 2011, companies will be granted a 20% CIT Rebate or 5% SME Cash Grant, whichever is the higher amount.
|
| 2008 and 2009 |
18% |
Partial tax exemption for companies
Effective from YA 2008, a partial tax exemption is given to companies on normal chargeable income* (excluding Singapore franked dividends) of up to $300,000 as follows:
Exempt amount
| First $ 10,000 |
@ 75% |
= $ 7,500 |
| Next $290,000 |
@ 50% |
= $145,000 |
| Total $300,000 |
|
$152,500 |
Tax exemption scheme for new start-up companies
Since YA 2005, a qualifying company can claim for full tax exemption on the first $100,000 of normal chargeable income* (excluding Singapore franked dividends) for its first three consecutive YA.
Effective from YA 2008, a further 50% exemption is given on the next $200,000 on a qualifying company's normal chargeable income* (excluding Singapore franked dividends).
The tax exemption for new start-up companies on chargeable income of up to $300,000 is as follows:
Exempt amount
| First $100,000 |
@ 100% |
= $100,000 |
| Next $200,000 |
@ 50% |
= $100,000 |
| Total $300,000 |
|
$200,000 |
A company that does not qualify for a tax exemption for new start-up companies will be given partial tax exemption.
|
| 2005 to 2007 |
20% |
Partial tax exemption for companies
For YA 2005 to YA 2007, a partial tax exemption is given to companies on normal chargeable income* (excluding Singapore franked dividends) of up to $100,000 as follows:
Exempt amount
| First $ 10,000 |
@ 75% |
= $ 7,500 |
| Next $ 90,000 |
@ 50% |
= $45,000 |
| Total $100,000 |
|
$52,500 |
Tax exemption scheme for new start-up companies
Effective from YA 2005, a qualifying company can claim for a full tax exemption on the first $100,000 of normal chargeable income* (excluding Singapore franked dividends) for its first three consecutive YA.
The tax exemption on the $100,000 chargeable income is as follows:
Exempt amount
First $100,000 @ 100% = $100,000
A company that does not qualify for tax exemption for new start-up companies will be given partial tax exemption.
|