The tax advantages of registering a Singapore company mainly include: exempting the offshore income tax of the company under its jurisdiction, and at the same time, the local government of Singapore gives certain tax-free treatment to the new company to support its development.

There are many taxes in Singapore: corporate income tax, personal income tax, consumption tax, customs duty, stamp duty, property tax, tourism tax and so on.

However, for Singapore companies that have no real estate in Singapore and operate offshore, the main taxes involved are only corporate income tax.

It should be noted that if the overseas income of a Singapore company is received locally in Singapore, the Singapore government will still tax this part of the income even if it is offshore income.

In addition, the Singapore government also has a tax exemption policy for newly established companies: full tax exemption is for newly established Singapore companies. In the first three-year audit year, the first $65,438+000,000 of annual income is tax-free, and subsequent income is also taxed at a lower tax rate.

Extended information: There are two types of companies in Singapore: small companies and non-small companies, with different tax filing requirements.

1, a small company in Singapore

A Singapore company with an annual turnover of less than S $5 million and fewer than 20 natural persons (and no company shares) is a small company. For such a small company, according to the audit exemption clause in Singapore's company law, the company's accounting audit work can be exempted, and the company's accounting statements and tax returns can be submitted directly for tax declaration.

2. Non-small companies in Singapore

Those who do not meet the above requirements of small companies in Singapore are non-small companies.

Non-small companies need to audit the company's accounts and need qualified accountants to do this work, and submit the audit results, accounting books and tax returns to the Singapore Taxation Bureau for tax declaration.