IPOS
2019-06-13
Tax for Non-Resident Director
2019-06-19
IPOS
2019-06-13
Tax for Non-Resident Director
2019-06-19
Partial Tax Exemption

Partial Tax Exemption

Partial Income tax Exemptions

Year of Assessment
(YA)		 Tax rate Tax exemption/ rebate
2013 and subsequent YAs 17% Partial tax exemption and tax exemption scheme for new start-up companies

Companies can enjoy the partial tax exemption and tax exemption for new start-up companies, as provided in the tables below.

Partial tax exemption for companies (from YA 2020)

Chargeable income % exempted from Tax Amount exempted from Tax
First $10,000 @75% =$7,500
Next $190,000 @50% =$95,000
Total $200,000 =$102,500

Tax exemption scheme for new start-up companies (where any of the first 3 YAs falls in or after YA 2020)

Chargeable income % exempted from Tax Amount exempted from Tax
First $100,000 @75% =$75,000
Next $100,000 @50% =$50,000
Total $200,000 =$125,000

Partial tax exemption for companies (YA 2019 and before)

Chargeable income % exempted from Tax Amount exempted from Tax
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 (where any of the first 3 YAs falls in or before YA 2019)

Chargeable income % exempted from Tax Amount exempted from Tax
First $100,000 @100% =$100,000
Next $200,000 @50% =$100,000
Total $300,000 =$200,000

Corporate Income Tax (CIT) Rebate for YAs 2013 to 2020

The table below summarises the CIT rebate percentage and cap given for companies*.

Year of Assessment (YA) Corporate Income Tax Rebate Capped at
New! 2020 25% $15,000
2019 20% $10,000
2018 40% $15,000
2017 50% $25,000
2016 50% $20,000
2013 to 2015 30% $30,000

The rebate will not apply to income derived by a non-resident company that is subject to final withholding tax.

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Accounting and Corporate Regulatory Authority of Singapore licensed corporate advisory firm.
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