chichanchi
Posts : 2
Reputation : 0
Join date : 2009-10-28
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Subject: Tax Incentives Wed Oct 28, 2009 9:57 pm |
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Hi, I have a question about taxes in Singapore. What tax incentives are available for new startups in Singapore?
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susanjain
Posts : 6
Reputation : 1
Join date : 2009-08-13
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Subject: Re: Tax Incentives Wed Oct 28, 2009 10:24 pm |
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New tax incentives for Singapore start-up private limited companies have been introduced since 2005 to support entrepreneurship and to help foster growth of SMEs. Under the new scheme, a newly incorporated company that satisfies the qualifying conditions (viz. be incorporated in Singapore, be a tax resident of Singapore and has no more than 20 shareholders of which at least one is an individual shareholder holding at least 10% of shares) will be taxed as follows: 1. For each of its first three consecutive tax years - corporate tax rate of 0% on the first S$100,000 of taxable income and 9% (partial exemption) tax rate on the next S$200,000 of taxable income. The taxable income above S$300,000 will be charged at the normal headline corporate tax rate of 18%. 2. From the fourth tax year onwards - 9% tax rate on taxable income of upto S$300,000 per annum. The taxable income above S$300,000 will be charged at the normal headline corporate tax rate of 18%.
Note: Effective 2010, corporate income tax rate will be reduced from 18% to 17%.
For more information on Singapore taxes, you can refer to Singapore Income Tax Guide
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leumas
Posts : 15
Reputation : 1
Join date : 2009-05-05
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Subject: Re: Tax Incentives Thu Nov 05, 2009 12:11 pm |
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Anyone care to share on Government grant for entrepreneur below the age of 26. Must this amount be returned at a later date? Not exactly sure about this.
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inle
Rising Star
Posts : 171
Reputation : 6
Join date : 2009-06-29
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Subject: Re: Tax Incentives Mon Nov 09, 2009 11:48 pm |
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There are about more than 150 grants available from different government agencies, ranging from a few thousands to a few millions.... Grants reimburse the running of the business, (excluding business's costs) and the kind of grants a business can apply depends on the business's nature and directions.... Since it is on a reimbursement basis, it means the amount does not need to be returned....
btw if anyone of you like to know more, i will like to refer you to my associate company which helps SMEs to apply for government grants, loans and tax incentives and other financial schemes.... let me know how i can add value to you guys ya....
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Subject: Re: Tax Incentives |
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