Subsidiary Corporate Tax Frequently Asked Questions

1. What is the corporate tax rate in Singapore?

Singapore has a flat corporate income tax rate of 17%. For annual profits of up to S$300,000, tax incentives are available that make the effective corporate tax rate below 9% provided all eligible criteria set by the authority are met.

2. What is the due date for filing corporate taxes?

The deadline for filing final corporate tax return in Singapore is November 30. The tax return is filed on a prior year basis i.e. you will need to file tax return for the financial year that ended in the previous calendar year.

Keep in mind however that each company is required to file an Estimated Tax Return within 3 months of the end of its financial year.

3. Can tax exemption be carried forward to subsequent years if there is no profit in first 3 years?​

No. If during any of the first three tax years, your company incurs losses or it has no income (e.g. business has not commenced), your chargeable income and tax payable will be nil. In this case, since there is no chargeable income, your company cannot enjoy the benefit given under the tax exemption scheme for new start-up companies for that particular tax year. However, that particular tax year will still be included in determining the first three consecutive tax years.


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