CHI

公共关系

我们提供优越且多样化的信息,以扩展海外市场。

미래전략 연구소2020-05-06T16:12:39+09:00

Singapore 2020 Corporate Tax Filing Season 2020 (Issue 2) - Taxable and Non-Taxable Income

Date
2020-10-05 11:17

Corporate Tax Filing Season 2020 (Issue 2)

Taxable and Non-Taxable Income

 

Taxable income is income that is subject to tax. Income 'accrued in' or 'derived from’ Singapore as well as income received from outside Singapore is taxable.

 

What is Taxable Income

For Singapore tax purposes, taxable income refers to:
  • gains or profits from any trade or business;
  • income from investment such as dividends, interest and rental;
  • royalties, premiums and any other profits from property; and
  • other gains that is revenue in nature.
 

Deductions such as business expenses, capital allowances and reliefs can be claimed to reduce taxable income, which leads to lower taxes.

 

When Income is Taxable Income

A company is liable to pay tax in Singapore on income that is:
  • accrued in or derived from Singapore; or
  • received in Singapore from outside of Singapore.
 

What is Non-Taxable Income

Capital Gains

Capital gains are not taxable. Examples of these are:
  • gains on sale of fixed assets; and
  • gains on foreign exchange on capital transactions.