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Corporate Tax in Singapore

Understanding your corporate tax obligations is essential for every Singapore business owner. Here's a clear overview.

Corporate Tax Basics

Singapore has one of the most competitive corporate tax regimes in the world. Key facts:

  • Flat corporate tax rate of 17%
  • New startups enjoy tax exemption on first S$100K of chargeable income for first 3 years
  • Partial tax exemption available for all qualifying companies
  • Estimated Chargeable Income (ECI) due within 3 months of FYE
  • Form C-S or Form C due by 30 November each year

Common Deductible Expenses

The following are generally deductible against your company's taxable income:

  • Staff salaries, CPF, and benefits
  • Office rental and utilities
  • Professional and accounting fees
  • Marketing and advertising expenses
  • Capital allowances on qualifying assets
  • Business travel and entertainment (subject to limits)
  • Interest on business loans
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Frequently asked questions

If you're new or looking for answers to your questions, this guide will help you learn more about our services and their features.

1. General Enquiries

We provide comprehensive accounting and consultancy services for SMEs in Singapore, including bookkeeping, GST filing, corporate and personal taxation, payroll, XBRL filing, management reporting, and corporate secretarial services.
Our typical clients are small to medium-sized enterprises (SMEs) across various industries in Singapore, including retail, F&B, professional services, e-commerce, and manufacturing.
We are based in Singapore and serve clients island-wide. We also work with businesses in Malaysia, Indonesia, Philippines, Thailand, China, and Taiwan.

2. Accounting & Bookkeeping

We are proficient in major accounting software including Xero, QuickBooks, MYOB, and Sage. We can work with your preferred software or recommend the best fit for your business.
We recommend monthly bookkeeping to keep your accounts up-to-date, ensure timely financial reporting, and avoid year-end reconciliation issues.
Typically, you'll need to provide bank statements, sales invoices, purchase invoices, receipts, and any loan or hire purchase agreements.

3. GST (Goods and Services Tax)

You must register for GST when your taxable turnover exceeds or is expected to exceed S$1 million in a 12-month period.
GST returns must be filed quarterly, within one month after the end of each accounting period. We handle all GST submissions on your behalf.
Yes, we provide full GST registration, preparation, and submission services ensuring full compliance with IRAS requirements.

4. Corporate Tax

Corporate income tax returns (Form C or Form C-S) must be filed with IRAS by 30 November each year for the preceding financial year.
Common deductible expenses include staff salaries, rent, utilities, professional fees, marketing costs, and depreciation on business assets.
Yes, we provide proactive tax planning to help you minimise your tax liability through legal means and maximise applicable government grants and incentives.

5. XBRL Filing

XBRL (eXtensible Business Reporting Language) is a digital financial reporting format required by ACRA for most Singapore companies when filing financial statements.
Most Singapore-incorporated companies with annual revenue exceeding S$500K or with more than 20 shareholders are required to file financial statements in XBRL format.
Yes, we prepare full XBRL-compliant financial statements and submit them directly to ACRA on your behalf.

6. Unaudited Financial Statements

Unaudited financial statements are prepared financial reports that have not been subject to an independent audit. Small exempt private companies may file unaudited accounts with ACRA.
Your company may be exempt if it qualifies as a small company: revenue ≤ S$10M, assets ≤ S$10M, and ≤ 50 employees for the past two consecutive years.

7. Personal Income Tax

The personal income tax filing deadline in Singapore is 15 April (paper filing) or 18 April (e-filing) each year for the preceding year's income.
All income derived from Singapore including employment income, rental income, business income, and certain overseas income must be declared.
Yes, we assist sole proprietors, directors, and individuals with their personal income tax filing, including claiming all eligible reliefs and deductions.

8. Fees & Packages

Our bookkeeping packages start from S$90/month. Visit our Pricing page for a full breakdown of our plans and services.
Yes, we offer both monthly and yearly packages. Annual plans come with a discount and greater cost certainty for your business planning.

9. Communication & Support

You can send documents via email, WhatsApp, Google Drive, Dropbox, or our client portal. We accept both physical and digital documents.
You can reach us via email at info@dtsl.com.sg, call or WhatsApp us at +65 82990001, or fill out the contact form on our website.

10. Management Reporting

Management reports are internal financial reports that help business owners track performance, cash flow, profitability, and make informed business decisions.
We recommend monthly management reports for active businesses, though quarterly reports may be sufficient for smaller or stable operations.
Absolutely. We customise reports to include KPIs, budget vs. actual comparisons, industry benchmarks, and any metrics relevant to your business.
Better visibility into your finances, faster decision-making, early detection of issues, and a stronger foundation for investor or bank discussions.

11. Business Advisory

We provide strategic advice on business structure, financial planning, cost management, compliance, and growth strategies tailored to Singapore SMEs.
Yes, we advise on the most tax-efficient structure for new businesses and help with corporate restructuring, including company incorporation and compliance setup.
Advisory services help you navigate complex regulations, reduce costs, improve financial health, and position your business for sustainable growth.
Yes, we offer detailed financial analysis including ratio analysis, benchmarking, cash flow forecasting, and profitability reviews.

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