All businesses need to pay income tax as long as their income was
derived or remitted into Singapore. There are other taxes you may
need to pay (e.g. withholding, goods and services, property, stamp
duty) depending on your business. The most common form of taxes that
a foreign investor needs to consider:
Business income is taxed at flat corporate tax rates of 17%.
and Services Tax (GST)
GST is a tax on goods and services purchased or consumed
locally. Here is a quick overview of GST and how it affects your
business. It is not meant to be an in-depth guide on GST.
Sole-proprietors are considered "self-employed". The business
income is treated as part of your total personal income and
taxed at personal income tax rates.
Withholding tax is a tax on payments made to non-residents
including employees, business partners and overseas agents. Here
is a quick overview of withholding tax and how it affects your
If you need help on tax matters:
- Contact our Biztrust tax
- Visit this IRAS website on corporate tax
- You can also contact IRAS at :
Local Toll-Free: 1800 356 8622
International: (65) 6356 8622
Email via IRAS website