@singapore what is the corporate tax rate on Singapore as well as the individual tax rate?
@singapore what is the corporate tax rate on Singapore as well as the individual tax rate?
@singapore what is the corporate tax rate on Singapore as well as the individual tax rate?
1 comments
Corporate tax at 17% albeit large companies can negotiate to bring it down. Global minimum tax rolled out in 2024 will act as a floor at 15% now.
Income tax, as usual, is based on income brackets. GST is 9%. https://www.iras.gov.sg/taxes/individual-income-tax/basics-of-individual-income-tax/tax-residency-and-tax-rates/individual-income-tax-rates
For reference, Dubai's corporate tax was 9% but global minimum tax will have the same effect of setting a 15% floor.
Income tax is zero and 5% VAT/GST.