A company is taxed at a flat rate of 17% on its chargeable income regardless of whether it is a local or foreign company. In addition, a company is able to enjoy the following common tax schemes to lower the tax payable:
- Tax exemption scheme for new start-up companies
- Partial tax exemption for all companies
- Corporate income tax rebate (up to YA 2017)
For more information on the different type of schemes, please refer to IRAS’ website.