- Corporate Income Tax: Small businesses registered as private limited companies are subject to corporate income tax.
Running a small business in Singapore comes with its own set of challenges. They range from fierce market competition and talent acquisition to staying relevant in a rapidly evolving landscape. In this dynamic environment, one crucial aspect that demands meticulous attention is the intricate realm of taxes.
Understanding and effectively managing your tax obligations is crucial for the financial health and sustainability of your enterprise. In this guide, we will delve into the key aspects of business taxes in Singapore, offering small business owners valuable insights to ensure compliance and optimisation of their tax positions.
Types of taxes for small businesses
As a small business owner in Singapore, it is essential to comprehend the various types of taxes that may impact your enterprise. Singapore maintains a well-defined tax framework, and here are several taxes that are pertinent to your business:
