Singapore Tax Services

Singapore has a very favorable tax system, with low personal and corporate taxes and several incentives to encourage global entrepreneurs to incorporate their companies in Singapore. The main taxes that business are subject to in Singapore include income tax, goods and services tax (GST), property tax and stamp duties. There is no capital gains tax.

Singapore taxes income on a territorial basis, which means that tax is imposed on all income accrued in or derived from Singapore, as well as on all foreign-sourced income remitted to Singapore, with certain qualifying exemptions. The country also operates a one-tier corporate tax system, under which corporate tax paid on a company’s profits is final. Any dividends paid are tax exempt in the hands of the recipient.

The main tax authority is the Inland Revenue Authority of Singapore (IRAS). IRAS administers the assessment and collection of all taxes. A company must submit an estimated chargeable income to the IRAS within three months from the end of its financial year. The Singapore corporate tax return filing is 30 November if the filing is on hard copy and 15 December if it is done via e-filing of the assessment year for income earned in the preceding financial year. Taxes are usually payable within one month from the date of a notice of assessment.

Our Singapore qualified accountants will take care of your taxation obligations ensuring timely and proper filings with the corresponding authorities.