New Company Startup in SIngapore

Tax exemption scheme for new start-up companies in Singapore

Under this scheme, a newly incorporated company that satisfies can claim for full tax exemption on the first $100,000 of normal chargeable income (excluding Singapore franked dividends) for each of its first three consecutive YAs.
A further 50% exemption is given on the next $200,000 of the normal chargeable income (excluding Singapore franked dividends), also for each of the first three consecutive YAs.

To qualify for the tax exemption for new start-up companies, your company must:
a) be incorporated in Singapore (other than a company limited by guarantee);
b) be a tax resident in Singapore for that YA;
c) have no more than 20 shareholders throughout the basis period for that YA where:
i) all of the shareholders are individuals beneficially and directly holding the shares in their own names; OR

ii) at least one shareholder is an individual beneficially and directly holding at least 10% of the issued ordinary shares of the company.


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