Singapore corporate tax in 2026: corporate tax rate, exemptions, rebates and filing deadlines

Owners of Singaporean registered businesses need to understand the standard corporate tax rate and filing protocols, as well as the allowed deductions and credits. Singapore’s headline corporate tax rate in 2026 is 17%, but this may be reduced by CIT rebates, partial tax exemptions, and for many new locally registered businesses through start-up tax exemptions.

This guide walks through how corporate income tax works, which entities need to pay, how to complete a corporate tax return and the corporate tax deadline you need to stick to.

We’ll also touch on Wise Business as a provider which can help you manage your money in SGD and other currencies, with features to simplify submitting your corporate tax in Singapore.

* Fee discounts may apply on large transfers. See Wise Business pricing for details.

Corporate income tax (CIT) in Singapore overview

If you have a Singaporean business, knowing the small business corporate tax rate and how to file is essential. Fines and penalties apply if you fail to keep up to date with your obligations, so getting some professional help is common to keep everything running.

This guide gives an overview of the current corporate tax rate in Singapore, and the outline processes you’ll need to follow.

The information provided here is not intended as financial or personalized advice. Readers should seek the help of a professional advisor for their specific financial needs.

The corporate tax system in Singapore

Tax in Singapore is managed by the Inland Revenue Authority of Singapore – IRAS.

Singapore has a territorial tax system for companies – businesses usually only pay tax to IRAS on income earned in Singapore, or remitted to Singapore. There’s a flat corporate tax rate, but significant government support for business means that there are also substantial rebates and tax exemption schemes to support new, innovative and growing companies.

Who is required to pay corporate taxes in Singapore?

Corporate taxes do not apply to a sole-proprietorship or partnership business – these entity types will pay Singapore income tax instead.

You’ll pay corporate taxes in Singapore if you have a business entity incorporated or registered in Singapore. Usually businesses in Singapore have the designation ‘Pte Ltd’ or ‘Ltd’ in their name.

You’ll also be liable for corporate taxes in Singapore if you have a foreign company which is registered in Singapore or a foreign company incorporated or registered elsewhere which is trading in Singapore.

Headline corporate tax rate

If you’re starting a business in Singapore you’ll need to know the headline corporate income tax rate. Singapore has a flat rate of 17% for local and foreign companies.

Statutory rate vs. effective tax rate

Singapore’s corporate tax statutory rate, as we’ve seen, is 17%. However, this isn’t necessarily the rate that Singaporean businesses will end up paying as there are also credits and deductions which may be applied that can reduce the overall tax burden a business may have.

The effective tax rate is the percentage tax a business ends up paying after any relevant exemptions, rebates, credits and deductions are applied. This is calculated as follows:

Total tax paid/Total taxable income = Effective tax rate

Generally the effective tax rate will be lower than the statutory rate – but the exact number differs for different business types.

In Singapore, the effective tax rate takes into account rebates, deductions, exemptions and other ways businesses reduce the overall tax burden. There’s a Singapore corporate tax rebate for eligible companies, plus there are partial exemptions and ways for start-up companies to reduce their taxes for several years post launch. Here are the details.

• CIT Rebate Cash Grant – rebate of 2,000 SGD to 40,000 SGD for local and foreign registered companies which have employed at least one Singaporean in the past year
• Tax exemption scheme for new start-up companies – 75% exemption on the first 100,000 SGD of chargeable income, and 50% exemption on the next 100,000 SGD of chargeable income, for the first 3 years the business is in operation
• Partial tax exemption (PTE) – 75% exemption on the first 10,000 SGD of chargeable income, and 50% exemption on the next 190,000 SGD of chargeable income. Not available for companies claiming start-up exemptions.

How corporate income tax is calculated in Singapore

When it’s time to file your Singaporean corporate taxes you may find you need a qualified accountant or advisor to support you to make sure everything works smoothly. Here’s a headline look at how corporate income tax is calculated in Singapore to give you an idea.

Taxable income vs. accounting profit

As a business owner you’ll need to know your accounting profit (pre-tax income) so you know how your company is performing. However, you’ll need to take a further step to calculate the taxable income that you need to submit to IRAS and that you’ll have to pay corporate taxes on.

To calculate your taxable income you’ll need to take your headline accounting profit and deduct any allowable expenses.

Here’s what’s considered taxable income vs non-taxable income in Singapore.

Taxable income:

• Profits from trade or business
• Investment income from dividends, interest and rental
• Royalties, premiums and any other profits from property

We’ll look at the commonly deductible items you may be able to remove from your pre-tax income to come up with the final taxable income sum, next.

Common deductible business expenses

Some business expenses can be deducted for tax purposes, for example:

• Business operating costs: some costs like rent, repairs, maintenance and business insurance can be deducted
• Marketing: the costs of advertising your business may be deductible depending on the details and methods
• Employee remuneration: if you have a team you may be able to deduct the costs of salaries, as well as other associated employee costs like statutory contributions to CPF and paid time off
• Vehicle and travel expenses: if you or your team need to travel for work you could deduct some costs, including mileage
• Legal and professional: certain additional unavoidable professional costs may also be deductible

Check the full listing on the IRAS website to make sure you’re calculating your taxable income correctly.

Non-deductible items to watch for

IRAS states that deductible expenses must be ‘wholly and exclusively incurred in the production of income’. This does mean that there are other key costs which you can not deduct from your tax calculations. Non-deductible items include:

• Certificate of entitlement (COE) for a vehicle
• Voluntary CPF or pension fund contributions
• Fixed assets acquisition or depreciation cost (capital allowances are used here instead)
• Private and domestic expenses, including commuting costs

Again there’s a full list of non-deductible items on the IRAS website. As making a false claim is illegal you’ll want to check this page out carefully before you file your tax.

Capital allowances and depreciation

Capital allowances are used in Singapore in place of the system of amortisation and depreciation of assets that is common in some other countries. You can claim capital allowances to cover wear and tear of qualifying capital items, which include office fittings, machinery, IT equipment and many other key costs involved with running a business.

Losses: Carry-forward and group relief

IRAS allows for carry forward of some unutilised losses, capital allowances and donations. There’s also the option for group relief which lets you offset unutilised losses, capital allowances and donations from one company against another company in the same group. If you think that this may be a useful provision when filing your Singapore corporate taxes you’ll be able to talk the details through with your accountant to make sure you select the best route based on your specific business situation.

How to file your corporate tax return in Singapore & 2026 deadlines

You’ll need to file your corporate tax return in Singapore through mytax.iras.gov.sg portal. You can find the IRAS tax due dates by year online, based on different filing requirements.

2026 corporate tax calendar & key deadlines

Singapore businesses must file Estimated Chargeable Income (ECI) by different dates throughout the year, depending on the company’s financial year-end.

By 30th November 2026 you’ll have to file your Corporate Income Tax Return (Form C-S/ Form C-S (Lite)/ Form C).

You must pay your Singapore corporate tax within one month from receiving your notice of assessment.

The fiscal year (FY) vs. year of assessment (YA)

Your company can decide on its own fiscal year which is a 12 month period – it doesn’t have to align with the calendar year. Taxes are then organised on the basis of the year of assessment (YA). In broad terms, this means that income earned in 2025 will be taxed in 2026 – 2026 is then called the YA for this income.

If you then need to change your tax year for any reason you must update the records held by ACRA for your business on BizFile to reflect the new tax basis year.

Preliminary and estimated filings

You’ll need to file your Estimated Chargeable Income (ECI) based on the date of your business year end. At this point you may be able to set up installment payments for your taxes. If you submit estimated income properly you could split your tax payments up over 10 months, with fewer installments available for businesses which file late.

Required forms and documentation

The forms and documents needed depend on your company type. Here’s a summary:

Form C-S is used for companies incorporated in Singapore with a revenue of 5 million SGD or less. You can’t use this form if you are claiming carry over of losses, group relief or some other allowances.

Form C-S (Lite) is for companies with an annual revenue of 200,000 SGD or below.

Form C is for all other active companies. When filing Form C you’ll also need to submit financial statements, tax computations and supporting schedules.

Form for Dormant Company is for dormant companies which had no income in the financial year.

Paying your taxes from a foreign currency? Check out Wise Business for low cost currency conversion and fast payments to Singapore and many other countries globally. Availability varies by country and local requirements.

2026 digital reporting & e-invoicing mandates

GST-registered businesses must transmit invoice data to IRAS using the InvoiceNow network. This has been on a soft launch since 2025, and from 1st April 2026 will apply for all new voluntary GST-registrants.

Corporate tax exemptions and incentives in Singapore

Singapore corporate tax exemptions for eligible companies include:

• Tax exemption scheme for new start-up companies – reducing the tax payable for the first 3 years the business is in operation
• Partial tax exemption (PTE) – 50% to 75% exemption on up to 200,000 SGD in chargeable income
• Foreign Tax Credit – Unilateral Tax Credit (UTC) for businesses paying tax in countries Singapore does not have a double tax agreement with, and Double Tax Relief (DTR) if your business is paying tax in a country Singapore has agreements in place with

Deductions are also available which can include allowable business expenses, as well CIT rebate if you’re eligible for them.

Corporate tax fines in Singapore

Late filing or non-filing penalties apply if you miss deadlines on your company taxes in Singapore. Penalties for errors in tax returns also apply, depending on whether the error was accidental or deliberate.

Offence type	Penalty
Late Filing	Penalty up to 5,000 SGD
Late Payment	5% – additional fees up to 12% can apply if you continue to be late in paying, even if you have raised issues with the tax notice issued
Incorrect Reporting	Penalty of up to 200% unpaid tax if you did not mean to evade taxes, fine of up to 5,000 SGD and/or jail up to 3 yearsPenalty of up to 400% unpaid tax if you intended to evade taxes, fine of up to 50,000 SGD and/or jail up to 5 years

Corporate tax advice in Singapore

You can find lots of information which is aimed at small business owners in Singapore on the IRAS website, which can be a good starting point if you’re not familiar with corporate taxes in Singapore. However, you’ll usually find that having a qualified accountant on hand is a good solution to help you learn more about Singaporean taxes and put your mind to rest that you’re keeping on top of all your duties and obligations.

How to find a qualified accountant

You can seek out word of mouth recommendations for tax support and accountants, or look in the Institute of Singapore Chartered Accountants directory for a suitable accountant. If you choose to use an accountant make sure you’re working with someone who is properly licensed and familiar with your type of company entity in Singapore.

How Wise Business simplifies tax compliance

• Support your audit trail: Download monthly statements, help provide a clean audit trail for claiming deductions and credits.
• Integrates with major accounting platforms: Wise Business accounts sync with Xero and QuickBooks
• Batch payments for withholding tax (WHT): If your company pays international vendors, Wise Business can process bulk payments for up to 1,000 recipients at once by uploading a single file.

International tax considerations

To properly know your business tax obligations you’ll need to be very clear on your business’ tax residency and where all of your income originates from.

If you’re doing business across more than one country, you may be eligible for a Foreign Tax Credit to mitigate double taxation if you’ve already paid tax on income in a different country. You’ll need to submit a Corporate Income Tax Return (Form C) to make a claim, and strict rules apply on when this credit can be used.

Get professional advice to support your tax filings if you’re running a more complex multinational business as your tax matters are likely to be complicated.

FAQs: quick answers for Singapore business tax

What is the Singapore corporate tax rate?

The Singapore corporate tax rate is 17%.

Is there a corporate income tax rebate for YA 2026?

The CIT Rebate Cash Grant offers a rebate of 2,000 SGD to 40,000 SGD for local and foreign registered companies which have employed at least one Singaporean in the past year.

What is the corporate tax filing deadline in Singapore?

By 30th November 2026 you’ll have to file your Corporate Income Tax Return (Form C-S/ Form C-S (Lite)/ Form C). You must pay your Singapore corporate tax within one month from receiving your notice of assessment.

How do I choose between Form C-S, C-S (Lite) and Form C?

In basic terms, Form C-S (Lite) is for companies with an annual revenue of 200,000 SGD or below. Form C-S is used for companies with a revenue of 5 million SGD or less. Form C is for all other active companies.

What is the corporate tax exemption in Singapore for start-ups?

The tax exemption scheme for new start-up companies can reduce the tax payable for the first 3 years the business is in operation, with variable exemptions based on income levels.

Do I need to file ECI and when?

Singapore businesses must file Estimated Chargeable Income (ECI) by different dates throughout the year, in March, June or September, depending on the company’s financial year-end.

Are capital gains taxable in Singapore?

Generally capital gains are not taxable in Singapore. Get professional advice if you are unsure what tax you need to report or pay.

Useful resources

• IRAS – ‘Basic Guide to Corporate Income Tax for Companies’
• IRAS – ‘Corporate Income Tax (CIT) Rate’
• IRAS – tax due dates by year
• mytax.iras.gov.sg – tax portal for filing corporate taxes
• IRAS – rebates and exemptions
• IRAS – foreign tax credits
• PWC – explainer on Singapore company taxes
• Institute of Singapore Chartered Accountants – directory for a licensed accountant