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Paying Taxes

The tax you pay will depend on the type of business you have and the income earned in the previous year.


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Published by Enterprise Singapore
on 11 Oct 2019

Paying Taxes

Tax Rates

  • Singapore generally follows a progressive tax rate starting at 0% and ending at 20% for income above S$320,000. From Year of Assessment 2017 onwards, it will be 22% for income above S$320,000.
  • Income tax rates differ according to the type of business you operate.
  • If you need more information on income tax and corporate tax rates, you can refer to the following:

 

Deductions & Reliefs

 

When To Pay

Be sure to pay your taxes promptly in order to avoid penalty fees or risking imprisonment. 

A. Sole-Proprietorships

  • Pay taxes within 1 month of receiving the Notice of Assessment and Statement of Account.

B. Partnerships & Companies

  • Pay taxes within 1 month of receiving the Notice of Assessment.
 

How To Pay

 

Getting More Information

Last Modified Date: 11 Oct 2019