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.
Overview of Personal Tax
- Any income that is "accrued" or received in Singapore by a
person or business is subject to income tax.
- Taxable income includes income from your business, salary
from employment, interest earned on your deposits and rental
- Capital gains are not subject to tax.
- For instance, if you buy and sell shares at a profit, the
profit is not subject to tax.