Singapore Tax & Compliance Framework
Singapore's tax system is administered by the Inland Revenue Authority of Singapore (IRAS), and company registration and annual filings are handled by the Accounting and Corporate Regulatory Authority (ACRA). Corporate income tax is charged at a flat 17%, with partial tax exemption and start-up exemption schemes available to qualifying companies. Singapore operates a one-tier system, so dividends paid by a company are generally tax-exempt in the hands of shareholders, and there is no general capital gains tax.
Goods and Services Tax (GST) is 9% (since 1 January 2024). GST registration is compulsory once taxable turnover exceeds S$1 million in a 12-month period, and voluntary registration is available below that. Companies generally file an Estimated Chargeable Income (ECI) return within three months of their financial year-end (some companies are exempt from this), and file their corporate tax return (Form C-S or Form C) by 30 November each year.
Employers make Central Provident Fund (CPF) contributions for Singapore citizen and permanent resident employees. Companies must also keep proper accounting records and file annual returns with ACRA. PakalaTax supports your bookkeeping, payroll records and management reporting so that your corporate secretary, auditor and tax filer have clean information to work from. Tax rules change; confirm current requirements with a locally authorised adviser.