Corporate Income Tax (CIT) – The headline tax rate for foreign-sourced income is at a minimum of 15%, the company will have to pay the higher at the tax rate between Singapore and its resident country. Given that Singapore’s resident CIT of 17% is lower than most countries on a global scale, and is subject to further tax reliefs, it is recommended for companies to hold a Singaporean registration.
Personal Income Tax (PIT) – The PIT rates are progressively based on income.
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