General Information about Singapore Tax System

Corporate Income Tax - A company is taxed at a flat rate of 17% on its chargeable income regardless of whether it is a local or foreign company. In order to attract foreign investment, Singapore government has introduced numerous tax benefits such as tax exemption scheme for new start-up companies, partial tax exemption scheme and corporate income tax rebate.

Individual Income Tax - All income earned in or derived from Singapore is chargeable to income tax. A Singapore tax resident is taxed at progressive rate with the current highest tax rate at 22%. Non-tax resident is taxed at flat rate of 15% - 22% (depends on the type of income) or the progressive resident tax rates, whichever is higher.

Goods and Services Tax (GST) – Majority of the supplies of goods and services in Singapore are subject to 7% GST. In other countries, GST is known as the Value-Added Tax or VAT.


Kaizen Tax Services

We has an experienced team of tax professionals who can assist you with a full range of tax matters, including:

• Preparation and filing of Estimated Chargeable Income (ECI)
• Preparation and filing of corporate income tax
• Preparation and filing of individual income tax
• Registration/De-registration of GST
• Preparation and filing of GST
• Preparation and filing of employee earnings (Form IR8A)
• Preparation and filing of tax clearance for foreign employees
• Preparation and application for Certificate of Residency (COR)
• Advisory on double tax treaties
• Advisory on withholding tax
• Advisory on transfer pricing
• Corporate and individual tax planning
• Handling tax queries from tax authority