Corporate Income Tax Rebate

To relieve business costs, a 50% and 20% corporate income tax rebate of tax payable will be granted in YA 2017 and YA 2018 respectively. The capped amounts for YA 2017 and YA 2018 will be $25,000 and $10,000 per YA respectively.

YA 2016 Corporate Income Tax Rebate

SGD

Chargeable income (B)

$560,000

Less: Exempt income

 

- 75% of first $10,000

($7,500)

- 50% of next $290,000

($145,000)

Chargeable income (after exempt income)

$407,500

Tax thereon @ 17%

$69,275

Less: 50% corporate tax income rebate (50% of
tax payable or capped at 20,000)

($20,000)

Tax payable (A)

$49,275

Effective tax rate (A/B)

8.8%