#

Ease of Doing Business in

Singapore

Singapore Download Profile (1730.9KB, pdf)
Region East Asia & Pacific
Income Category High income
Population 5,535,002
GNI Per Capita (US$) 52,090
City covered Singapore

190

1

DB 2017 Rank

1

100

DB 2017 DTF (% points)

  • local_library
  • group
Topics DB 2017 Rank DB 2016 Rank info_outline Change in Rank DB 2017 DTF (% points) info_outline DB 2016 DTF (% points) info_outline Change in DTF (% points) info_outline
Overall 2 3 up
1
85.05 84.50 down
0.55
Starting a Business 6 7 up
1
96.49 96.49
-
Dealing with Construction Permits 10 24 up
14
81.75 78.69 up
3.06
Getting Electricity 10 10
-
91.32 91.22 up
0.10
Registering Property 19 22 up
3
83.58 82.33 up
1.25
Getting Credit 20 19 down
1
75.00 75.00
-
Protecting Minority Investors 1 1
-
83.33 83.33
-
Paying Taxes 8 9 up
1
91.85 90.78 up
1.07
Trading across Borders 41 41
-
89.30 89.30
-
Enforcing Contracts 2 2
-
83.61 83.61
-
Resolving Insolvency 29 28 down
1
74.31 74.31
-

Positive= Doing Business reform making it easier to do business.Negative= Change making it more difficult to do business.

DB 2017 Rank:

8

DB 2016 Rank:

9

Change in Rank:

up1

DB 2017 DTF (% points):

91.85

DB 2016 DTF (% points):

90.78

Change in DTF (% points):

up1.07

Indicator Singapore East Asia & Pacific OECD high income
Payments (number per year) info_outline 5 22.9 10.9
Time (hours per year) info_outline 66.5 198.0 163.4
Total tax rate (% of profit) info_outline 19.1 33.9 40.9
Postfiling index (0-100) info_outline 73.4 59.6 85.1
Tax or mandatory contribution Payments (number) Notes on Payments Time (hours) Statutory tax rate Tax base Total tax rate (% of profit) Notes on TTR
Employer paid - Social security contributions 1 online and jointly 13 17% gross salaries 16.02
Corporate income tax 1 24 17% taxable profit 1.79
Property tax 1 online 10% property value 1.04
Skills Development Levy 0 online and jointly 0.25% gross salaries 0.21
Road tax 1 fixed fee engine size 0.03
Employee paid - Social security contributions 0 online and jointly 20% gross salaries 0.00 withheld
Value added tax (GST) 1 online 30 7% value added 0.00 not included
Totals: 5 66.5 19.1
  • Taxes by type Answer
    Profit tax (% of profit) 1.8
    Labor tax and contributions (% of profit) 16.2
    Other taxes (% of profit) 1.1
    Answer Score
    Postfiling index (0-100) 73.4
    VAT refunds 91.0
    Does VAT/GST exist? Yes
    Frequency of VAT/GST refund submission quarterly
    Does a VAT/GST refund process exist per the case study? Yes
    Restrictions on VAT refund process None
    Likelihood of VAT audit Likely
    Time to comply with VAT refund (hours) 4.5 91.0
    Time to obtain a VAT refund (weeks) 18.5 70.5
    Corporate income tax audits 71.6
    Does corporate income tax exist? Yes
    Likelihood of corporate income tax audit Likely
    Time to comply with a corporate income tax audit (hours) 17.0 71.6
    Time to complete a corporate income tax audit (weeks) 12.6 60.7
    Administrative appeal process
    First level administrative appeal authority Income Tax Board of Review
    Is the appeal authority independent? Independent Department outside tax office
    Are appeal guidelines accessible to the public? Yes
    Source of appeal guidelines online
    Is there a legal time limit for the appeal authority to issue a decision on the tax appeal? No
    Legal time limit

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.

The postfiling index is the average of the scores on time to comply with VAT refund, time to obtain a VAT refund, time to comply with a corporate income tax audit and time to complete a corporate income tax audit.

N/A = Not applicable.