| 2010 onwards |
17%
|
Partial tax exemption and tax exemption scheme for new start-up companies
Companies will continue to enjoy the partial tax exemption scheme and tax exemption scheme for new start-up companies as provided in YA 2008 and YA 2009.
In addition, with effect from YA 2010, the tax exemption scheme for new start-up companies will be extended to include companies limited by guarantee, subject to the same conditions.
Corporate Income Tax (CIT) Rebate and SME Cash Grant
For YA 2011, companies will be granted a 20% CIT rebate or a 5% SME cash grant, whichever is the higher amount. Click here for more information.
|
| 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.
|
| 2002 |
24.5% |
Partial tax exemption for companies
Effective from YA 2002, a partial tax exemption is given to companies on normal chargeable income* (excluding Singapore franked dividends) of up to $100,000. The partial tax-exempt amount is the same as that for YA 2005 to YA 2007.
Tax rebate
For YA 2002, a tax rebate of 5% on the gross tax payable (excluding tax on Singapore dividends and tax on income subject to final withholding tax) is given.
|
| 2001 |
25.5% |
Tax rebate
For YA 2001, a tax rebate on the gross tax payable (excluding tax on Singapore dividends and tax on income subject to final withholding tax) is given.
The tax rebate is computed as follows:
50% on first tax payable of $25,500
5% on balance of tax payable in excess of $25,500 (i.e. gross tax payable less $25,500)
|