Business taxes in Singapore: calculator for sole proprietors and companies
Choose a sector, a legal form and a tax system, enter your annual revenue and expenses — the calculator shows every tax and contribution, the total and what you keep.
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Legal forms
Sole proprietorship Sole proprietorship
You run the business in your own name registered with ACRA; liability is unlimited — you are personally responsible for all business debts. You can register if you are 18 or over and a Singapore citizen, permanent resident (PR) or an eligible FIN holder allowed to do so by MOM or ICA; a foreigner living overseas must use a corporate service provider and appoint a locally resident authorised representative.
Requirements
Register online on Bizfile (ACRA): name application SGD 15 + registration SGD 100. Renew for 1 or 3 years (SGD 30 / 90), from 60 days before expiry; running the business after the registration expires is an offence.
MediSave: before renewing, the owner must have arranged with the CPF Board to pay MediSave contributions (in full or by monthly instalments); a 3-year renewal needs no outstanding MediSave or 24 consecutive months of instalments. Otherwise ACRA will not renew and may cancel the registration.
Income tax return Form B — from 1 March to 18 April of the following year. With revenue up to and including SGD 200,000 a 2-line statement (revenue and adjusted profit) is enough; from SGD 500,000 a certified statement of accounts is required. Keep full records for at least 5 years.
GST (9%): registration is compulsory if taxable turnover for a calendar year exceeds SGD 1,000,000 (apply from 1 to 30 January) or is expected to exceed SGD 1,000,000 in the next 12 months (apply within 30 days of the forecast).
Licences depend on the activity and are applied for on the GoBusiness portal (e.g. SFA licences for selling or making food).
Sole proprietorSole proprietorship (self-employed person)
Profit (net trade income: revenue minus expenses) is taxed at the resident rates of 0–24% after the SGD 1,000 Earned Income Relief and a full deduction for the compulsory MediSave contribution. Citizens and PRs with profit above SGD 6,000 pay MediSave: at age 35–44 it is 4.5% (up to SGD 12,000), phased in to 9% (from SGD 18,000), capped at SGD 8,640 a year.
Conditions
MediSave is compulsory for citizens and PRs with net trade income above SGD 6,000; foreigners do not pay it. Rates depend on age at 1 January: below 35 — 4% / 8% (max SGD 7,680), 35–44 — 4.5% / 9% (8,640), 45–49 — 5% / 10% (9,600), 50 and over — 5.25% / 10.5% (10,080). The CPF Board sends a notice after the IRAS assessment; pay within 30 days.
Income earned in 2026 is taxed in Year of Assessment 2027 (return filed in 2027). The resident rates apply from YA 2024; the YA 2025 rebate was 60% of tax, up to SGD 200; no rebate for YA 2027 had been announced by 10 November 2026, so none is applied.
From YA 2026 compulsory MediSave paid in the previous year is deducted in full, without a cap; voluntary CPF contributions are relieved within 37% of profit and SGD 37,740 together with the compulsory ones (not included in the calculation).
GST (9%) is not included in the calculation; registration is compulsory once taxable turnover exceeds SGD 1,000,000 a year.
Private limited company (Pte. Ltd.) Private company limited by shares (Pte. Ltd.)
A separate legal entity registered with ACRA; shareholders (1 to 50) are not liable for the company's debts. One person can be the sole shareholder and director, but at least one director must be ordinarily resident in Singapore (Companies Act, s. 145(1)).
Requirements
Incorporate online on Bizfile (ACRA): SGD 315 (name SGD 15 + incorporation SGD 300). Minimum share capital SGD 1 and at least one share.
Directors must be 18 or over, at least one a citizen, PR or a person meeting the local residency rules. Appoint a company secretary within 6 months (not the sole director) and an auditor within 3 months unless exempt from audit.
Every year: AGM within 6 months after the financial year end (not needed if financial statements are sent to members within 5 months or all members resolve to dispense with it); annual return to ACRA within 7 months; keep the company registers (including the register of registrable controllers).
IRAS: Estimated Chargeable Income (ECI) within 3 months after the financial year end (waived if revenue is SGD 5 million or less and ECI is nil); tax return Form C-S (revenue up to SGD 5 million), C-S (Lite) (up to SGD 200,000) or Form C by 30 November.
GST (9%): registration is compulsory if taxable turnover for a calendar year exceeds SGD 1,000,000 or is expected to exceed SGD 1,000,000 in the next 12 months.
CompanyPrivate limited company — start-up tax exemption (first 3 YAs)
For its first three Years of Assessment a new company pays 17% on part of its profit only: 75% of the first SGD 100,000 and 50% of the next SGD 100,000 are exempt (up to SGD 125,000 a year). One-tier dividends paid to the owner are tax-free.
Conditions
Conditions: the company is incorporated in Singapore and tax resident there for the YA; no more than 20 shareholders throughout the year, all individuals or at least one individual holding at least 10% of the ordinary shares. Not for investment holding companies or property developers.
Income of financial year 2026 is taxed in YA 2027. The CIT Rebate for YA 2026 (2025 profits) is 50% of tax, capped at SGD 40,000 together with the cash grant (the SGD 2,000 grant needs a local employee other than a shareholder-director); no rebate for YA 2027 had been announced by 10 November 2026, so none is applied.
Dividends from a Singapore resident company (one-tier) are not taxed in the shareholder's hands, so the result is the same whether or not profit is paid out. An owner who takes no salary pays no CPF contributions.
GST (9%) is not included in the calculation; registration is compulsory once taxable turnover exceeds SGD 1,000,000 a year.
CompanyPrivate limited company — partial tax exemption
After the first three YAs (or if the company does not qualify for the start-up exemption) 75% of the first SGD 10,000 and 50% of the next SGD 190,000 of profit are exempt (up to SGD 102,500 a year); the rest is taxed at 17%. One-tier dividends paid to the owner are tax-free.
Conditions
The partial tax exemption applies to all companies paying tax at the 17% rate, with no separate application.
Income of financial year 2026 is taxed in YA 2027. The CIT Rebate for YA 2026 (2025 profits) is 50% of tax, capped at SGD 40,000 together with the cash grant; no rebate for YA 2027 had been announced by 10 November 2026, so none is applied.
Dividends from a Singapore resident company (one-tier) are not taxed in the shareholder's hands, so the result is the same whether or not profit is paid out. An owner who takes no salary pays no CPF contributions.
GST (9%) is not included in the calculation; registration is compulsory once taxable turnover exceeds SGD 1,000,000 a year.
Software development, IT services, consulting for companies and entrepreneurs.
GST: IT and consulting services for an overseas client can be zero-rated as international services (GST Act, s. 21(3)(j)) if they are contractually supplied to an overseas person and directly benefit a person outside Singapore (or a GST-registered person in Singapore); services to local clients are taxed at 9%.
If turnover comes wholly or mainly from zero-rated services, you can apply for exemption from GST registration even above SGD 1,000,000.
Income Tax, MediSave and Corporate Income Tax do not depend on the sector; only GST and licences differ.
Other business services draft — data being checked
Marketing, design, translation, engineering, bookkeeping and other professional services to companies.
GST: services of engineers, accountants, lawyers and similar professionals to an overseas person acting wholly in a business capacity are zero-rated (GST Act, s. 21(3)(k)); other consultancy services follow s. 21(3)(j); services to local clients are taxed at 9%.
Costs you recharge to a client as principal are part of your service (GST applies); costs paid as the client's agent (disbursements) are not a supply and carry no GST.
Income Tax, MediSave and Corporate Income Tax do not depend on the sector; only GST and licences differ.
Services to individuals draft — data being checked
Household services, repairs, beauty, tutoring, photography — for private customers.
A GST-registered business must display and quote prices to the public inclusive of GST (9%) — on price tags, ads, websites and verbal quotes; the fine is up to SGD 5,000. Hotels and F&B outlets that charge a service charge are the exception.
Food: a home-based food business in an HDB flat or private apartment needs no SFA licence (no catering, no sales to licensed food establishments); a café or restaurant needs a Food Shop Licence at SGD 195 a year and a stall a Food Stall Licence at SGD 32 a year, via GoBusiness.
Income Tax, MediSave and Corporate Income Tax do not depend on the sector; only GST and licences differ.
Trade in goods draft — data being checked
Retail and wholesale, including an online shop (excluding excise goods).
Imports: you need a UEN (ACRA registration), an activated Singapore Customs account and a permit for each import via TradeNet; GST is payable on imported goods (plus duty on dutiable goods). Post and air parcels up to SGD 400 (CIF) get GST relief and a permit waiver.
Exports of goods are zero-rated for GST; in retail a GST-registered business must display GST-inclusive prices (fine up to SGD 5,000).
Selling food: a supermarket needs an SFA licence at SGD 250 a year (under 200 m²) or SGD 500 (larger); a shop or stall a Food Shop (SGD 195) or Food Stall (SGD 32) licence a year, via GoBusiness.
Income Tax, MediSave and Corporate Income Tax do not depend on the sector; only GST, customs procedures and licences differ.
Manufacturing draft — data being checked
Making and selling your own products: food, furniture, clothing, handmade goods.
Making food in a workshop: SFA Licence to Operate a Food Processing Establishment via GoBusiness — application fee SGD 147.20 plus an annual licence fee by type and floor area (e.g. SGD 180 for other processed food under 200 m²); the licence is valid for 1 year.
Making food at home needs no SFA licence, but such food may not be sold to licensed food establishments or used for catering.
Exports of goods are zero-rated for GST; GST is payable on imported materials at import.
Income Tax, MediSave and Corporate Income Tax do not depend on the sector; only GST and licences differ.
Assumptions
One owner — a Singapore tax resident who is a citizen or permanent resident (PR) aged 35–44 at 1 January; no employees, no children, no other income; the business runs for the whole year.
Income of 2026 is Year of Assessment 2027 (tax on the preceding year). Rates in force on 10 November 2026 are used: the resident scale from YA 2024, 17% Corporate Income Tax and the exemptions from YA 2020, and the 2026 MediSave table; no rebates for YA 2027 had been announced, so none are applied.
Sole proprietor: only the SGD 1,000 Earned Income Relief and the deduction for compulsory MediSave; profit in the previous year is the same, so the MediSave deducted equals the contribution on this year's profit. Voluntary CPF, SRS and other reliefs are not modelled.
Company: the owner is the sole shareholder and director and takes no salary or director's fee (so no CPF is due); profit after tax is either paid out in full as one-tier dividends (tax-free) or kept in the company — the tax is the same. The CIT Rebate Cash Grant is not included (it needs a local employee).
Expenses are documented business costs fully deductible in the year they are incurred; capital allowances, loss carry-forward and enhanced deductions are not modelled.
GST (goods and services tax, 9%) is not included: it is passed on to clients and does not reduce profit.
DoubleTaxation