A Quick Guide to Tax Details for Company Incorporation in Singapore
There are actually a lot of benefits of incorporating a company in Singapore. Singapore is basically known as a top-notch financial hub that consists of affordable funding, the place where you can incorporate your business and can run your business easily. Singapore is best known for its robust IP protection along with the legal system.
But one of the most important benefits of incorporating a company in Singapore is its attractive tax in Singapore framework.
There is no doubt, that all the Singapore resident companies are actually imposed on the profits that are derived in Singapore. Not only this but the tax are also imposed on the foreign lands, which are then remitted to Singapore.
The rate of the corporate income tax since 2010 is fixed at 17%. The tax that is imposed is basically calculated on the companies chargeable income. The Singapore marginal rate is already the third-lowest in the world, the effective tax payable sometimes comes out to be even lower if one is taking the complete advantage of all the incentives of the government along with the subsidies and schemes.
Through a PIC scheme, it has been approved by the government of Singapore which has decided that the firm does not have to pay any Singapore corporate tax even if they are earning as much as S$28 million annually.