To summarize the key points of the quite preferable tax system, you should remember the following statements. In any case, we always render you the particular details regarding more specific business issues:
the ceiling income tax at a rate of 22% is imposed from the annual income that exceeds 320,000.00 USD;
there is no capital gains tax;
inheritance charge is canceled;
individuals are obliged to pay taxes imposed on their earnings received inside Singapore. Conversely, if their work inputs are remunerated abroad such incomes are not subject to levied on;
tax rates for residents differ from the Singapore non-residents’ ones;
profit tax is estimated based on the background figures of the previous reporting period.