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Singapore: the best place for overseas companies to plan tax

Low tax countries in the world

Corporate income tax up to 17% no capital gains tax no capital appreciation tax

Simple tax system

Corporate income tax up to 17% no capital gains tax no capital appreciation tax

No foreign exchange control

No foreign exchange control policy bank account income and expenditure free capital circulation free, conducive to trade

Preferential policies of tax system

Tax residents enjoy preferential tax system, new companies enjoy tax relief

Stable exchange rate and inflation rate

The inflation rate is basically stable, and the exchange rate of Singapore dollar remains balanced

Confidentiality law is strict

Perfect legal system, strict supervision, more strict "Singapore secret law"

Hongfu'an tax planning service

Bookkeeping agency of Singapore company

According to the provisions of Singapore company law, companies established in Singapore need to keep accounts and relevant original vouchers for at least five years, so that the Singapore tax administration (IRAS) can implement comprehensive and real-time review and supervision, and the cost can be saved and efficiency can be improved through the bookkeeping of hongfu'an agent. The process of hongfu'an's account audit is as follows

  • Documents, accounting,2 weeks
  • Letter of appointment, about 1 week
  • Confirmation letter, about 2 weeks
  • Report, about 4 weeks
  • Customer sign report and send it back
  • Report presentation, about 2-3 weeks

Singapore corporate tax audit

According to Singapore regulations, any Singapore company must employ an auditor within 3 months of its establishment. From July 1, 2015, Singapore PTE. Ltd. can be defined as a "small company" if it meets the corresponding conditions (any 2 of the following conditions), and can obtain an audit exemption:
① The turnover of the company shall not exceed S $10 million
② The total assets of the company shall not exceed S $10 million
③ The total number of employees employed by the company shall not exceed 50
Hongfu'an can assist enterprises to issue audit reports that meet the statutory requirements, assess the financial information, operational risks and other aspects, and help Singapore companies to save costs and maintain sound operations.

Singapore corporate tax returns

Except for "dormant Companies " and companies with turnover less than S $1 million and no regular tax income, all companies registered in Singapore must be included in the tax declaration. If the company fails to submit the tax returns or false tax returns before the date required by Singapore tax law, it will face court action or fine.
17%
Corporate income tax

The newly established Singapore company can obtain tax relief if it meets certain conditions in the first three years.
Report date: May 1 to November 30 of the following year

7%
Excise tax

If the turnover is more than S $1 million, the company must be registered as a company subject to consumption tax
Reporting date: one month after the end of each quarter

10-15%
Withholding tax

The newly established Singapore company can obtain tax relief if it meets certain conditions in the first three years.
Report date: May 1 to November 30 of the following year

Singapore corporate tax preference

When the management and control of the Singapore company is exercised in Singapore, even if the Singapore tax resident company, the Singapore tax resident company can enjoy the following tax preferential policies:
1.Avoidance of double taxation

Tax resident companies enjoy the preferential treatment in the "DTA" signed by Singapore and other countries.

2.Overseas income exemption

The following three types of overseas income of Singapore companies can be exempted from tax if the conditions are met

*Overseas dividend

*Profit of overseas branches

*Overseas service income (there must be a fixed place to provide services overseas)

3.Singapore startups tax exemption

The business scope of the company is not investment holding or developer; the number of shareholders of the company is no more than 20; the proportion of shares of at least one individual shareholder is no less than 10%

Profit before tax credit line tax payable effective tax rate
0 -- $100,000 100% (100,000) $0 0%
$100,001 -- $300,000 50% (100,000) $17,000 8.5%
total $300,000 $17,000 5.7%
Over $300000 Levied at 17%

Other popular services of Hong Fu'an Singapore company

Singapore company registration

Public company Blockchain company
Foundation Private company
Account opening

No need to go to Singapore, hongfu'an customers enjoy domestic face-to-face service

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