Singapore Corporate Income Tax Calculator

For people around the world who are looking to start a new business, Singapore is a breath of fresh air. Other than its unique geography as the strategic location to play as the financial hub in the region, the first-class facilities, high-level workforce as well as attractive tax incentives have transformed the island into a hotspot for investors and business startups.

According to Singapore tax law (where it follows a territorial tax system), a company is required to file returns only on income accrued in or derived from Singapore or any income received in Singapore from outside Singapore that results from the following:

  • Profits from any trade or business;
  • Investments by the company
  • Royalties, premiums and any other profits of similar nature
  • Other gains of an income nature.

 

The process for filing corporate tax returns is might be a daunting task. Nevertheless, there are always solutions that can save your time and let you manage tax filing in a hassle free manner.

With our corporate tax calculator, you will be able to get a quick tax calculation adjustments that help you to estimate and accurately forecast your tax payable amounts.


Singapore Corporate Income Tax Calculator for YA 2020 and after

Singapore Corporate Income Tax Calculator for YA 2020 and afterCorporate tax exemption schemes have been changed with effect from YA 2020. In the table below 3E Accounting Singapore as a Corporate Service Provider has created this easy and direct calculation which Singapore business owner can input their "Chargeable Income/Profit" values into our system which will instantly tabulate the results as follow:

The Corporate Income Tax Calculator for YA 2020 and after has 2 types of exemption which is called the New Start-up exemption and the Partial Exemption.

For NEW START-UP EXEMPTION, the income tax rates will be charged as follow: the first $100,000 will be at 4.25% followed by the next $100,000 will be at 8.5%, thereafter income above $200,000 will be at 17%. There are no tax rebates which your gross and net tax payable will be the same. The effective tax rate will be the value of the net tax payable divide by your income input value.

For PARTIAL EXEMPTION, the income tax rates will be charged as follow: the first $10,000 will be at 4.25% followed by the next $190,000 will be at 8.5%, thereafter income above $200,000 will be at 17%. There are no tax rebates which your gross and net tax payable will be the same. The effective tax rate will be the value of the net tax payable divide by your income input value.


How It Works

  1. About This Calculator This calculator will work out tax rates, obligations and projected tax payables.
  2. When to Use This Calculator
    • if your company are completing an income tax return, and
    • once you know what your company total taxable income is, then you can work out the tax on that taxable income.
  3. What You Will Need
    • you will need your company’s profit / chargeable income for the tax calculation.

Income Tax for Corporate Entity

CHARGEABLE INCOME/PROFIT
Enter the chargeable income here.



Click to Access:

Singapore Corporate Income Tax Calculator for YA 2020 and after
Singapore Corporate Income Tax Calculator for YA 2019

3E Accounting understands the difficulties in tax filing for corporate, therefore we are here to help you to understand more about tax filing in Singapore, as well as to provide you with the professional tax accountant services. Contact us today to assist you on your company income tax.

 

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