| 2013 and subsequent YAs |
17% |
Partial tax exemption and tax exemption scheme for new start-up companies
Companies can enjoy the partial tax exemption and tax exemption for new start-up companies, as provided in the tables below.
Partial tax exemption for companies (from YA 2020)
| Chargeable income |
% exempted from Tax |
Amount exempted from Tax |
| First $10,000 |
@75% |
=$7,500 |
| Next $190,000 |
@50% |
=$95,000 |
| Total $200,000 |
|
=$102,500 |
Tax exemption scheme for new start-up companies (where any of the first 3 YAs falls in or after YA 2020)
| Chargeable income |
% exempted from Tax |
Amount exempted from Tax |
| First $100,000 |
@75% |
=$75,000 |
| Next $100,000 |
@50% |
=$50,000 |
| Total $200,000 |
|
=$125,000 |
Partial tax exemption for companies (YA 2019 and before)
| Chargeable income |
% exempted from Tax |
Amount exempted from Tax |
| First $10,000 |
@75% |
=$7,500 |
| Next $290,000 |
@50% |
=$145,000 |
| Total $300,000 |
|
=$152,500 |
Tax exemption scheme for new start-up companies (where any of the first 3 YAs falls in or before YA 2019)
| Chargeable income |
% exempted from Tax |
Amount exempted from Tax |
| First $100,000 |
@100% |
=$100,000 |
| Next $200,000 |
@50% |
=$100,000 |
| Total $300,000 |
|
=$200,000 |
For more details on the above exemptions, please refer to Common Tax Reliefs That Help Reduce The Tax Bills.
YA 2020New!
Companies will be granted a 25% Corporate Income Tax Rebate capped at $15,000.
YA 2019
Companies will be granted a 20% Corporate Income Tax Rebate capped at $10,000.
YA 2018
Companies will be granted a 40% Corporate Income Tax Rebate capped at $15,000.
YA 2017
Companies will be granted a 50% Corporate Income Tax Rebate capped at $25,000.
YA 2016
Companies will be granted a 50% Corporate Income Tax Rebate capped at $20,000.
YA 2013, YA 2014 and 2015
Companies will be granted a 30% Corporate Income Tax Rebate capped at $30,000 for each YA. |
