Tax
Singapore’s tax system is known for its simplicity and efficiency, featuring competitive rates designed to attract businesses and individuals. The country implements a progressive personal income tax, with rates ranging from 0% to 22%, and a flat corporate tax rate of 17%. Goods and Services Tax (GST) is set at 8%, applying to most goods and services. Additionally, Singapore offers various tax incentives and exemptions to encourage investment and economic growth. Fastcorp provides expert guidance on navigating Singapore’s tax landscape, ensuring compliance and optimizing tax benefits for both businesses and individuals.
Details on Tax
Comprehensive. Fastcorp offers guidance on Singapore’s tax exemptions and systems, ensuring clients benefit from all available incentives.
The Startup Tax Exemption provides substantial relief for new companies, significantly lowering their initial tax burden.
The Partial Tax Exemption applies to both new and established firms, offering tax reductions on a portion of their chargeable income.
Singapore’s Single-Tier Dividend Tax System means dividends are tax-free for shareholders, enhancing investment returns.
No capital gains tax exists in Singapore, allowing businesses to retain more profits from asset sales.
Numerous Double Tax Avoidance Agreements prevent businesses from being taxed twice on the same income, promoting international trade and investment.
How Fastcorp Can Help with Taxes
Fastcorp's Tax Services
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