Singapore

Paying Taxes in

Singapore

Below is a detailed summary of the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year, as well as measures of administrative burden in paying taxes.

This information was collected as part of the Doing Business project, which measures and compares regulations relevant to the life cycle of a small- to medium-sized domestic business in 189 economies. The most recent round of data collection was completed in 2013 (January 1, 2013 – December 31, 2013).

Compare Singapore to 188 other economies.

Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% profit) Notes on TTR
Employer paid - Social security contributions 1 online filing 10 16% gross salaries 15.08
Corporate income tax 1 32 17% taxable profit 2.24
Property tax 1 online filing 10% property value 1.09
Road tax 1 fixed fee engine size 0.02
Employee paid - Social security contributions 0 paid jointly 20% gross salaries 0.00 withheld
Value added tax (GST) 1 online filing 40 7% value added 0.00 not included
Totals: 5.0 82.0 18.4

Notes:
Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.

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