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Guide to Singapore Corporate Tax Rates and Filing Deadlines for Small Businesses in 2025

Navigating corporate tax obligations is a critical task for small business owners in Singapore. With a tax system designed to be business-friendly yet compliance-focused, understanding key rates, exemptions, and deadlines can save time, reduce stress, and prevent penalties. This guide breaks down everything small businesses need to know about Singapore’s corporate tax framework for 2025.

1. Corporate Tax Rates in Singapore

Singapore imposes a flat corporate tax rate of 17% on chargeable income (taxable profits after allowable deductions) for both local and foreign companies . However, small businesses often pay less than 17% due to exemptions and incentives.

Tax Exemptions for Small Businesses

Start-Up Tax Exemption (SUTE):

Newly incorporated companies (first three years) enjoy:

  1. 75% exemption on the first S$100,000 of chargeable income.
  2. 50% exemption on the next S$100,000.

 Example: A startup with S$200,000 taxable income pays tax on only S$25,000 (effective rate: ~4.25%) . 

Partial Tax Exemption (PTE):

Companies not eligible for SUTE can claim:

  1. 75% exemption on the first S$10,000.
  2. 50% exemption on the next S$190,000.

Example: A company with S$200,000 taxable income pays tax on S$102,500 (effective rate: ~8.71%) . 

Note: Investment holding and property development companies are excluded from SUTE.

2. Key Filing Deadlines for 2025

Timely compliance is critical to avoid penalties. Below are the deadlines small businesses must prioritize:

Estimated Chargeable Income (ECI)

  1. Deadline: Within 3 months after your financial year-end (FYE).
    1. Example: FYE 31 Dec 2024 → File ECI by 31 Mar 2025 .
  2. Waiver: Companies with annual revenue ≤ S$5 million and* nil chargeable income are exempt .

 

Corporate Income Tax Return (Form C-S/C)

  1. Deadline:30 November 2025 (paper/e-filing).
    1. Example: Income for FYE 31 Mar 2024 must be filed by 30 Nov 2025 .
  2. Simplified Filing: Companies with revenue ≤ S$5 million can use Form C-S

 

Annual General Meeting (AGM) & Annual Returns

  1. AGM: Hold within 6 months of FYE (private companies).
  2. Annual Return: File with ACRA within 7 months of FYE .

3. Penalties for Non-Compliance

Failure to file your Corporate Income Tax Returns together with financial statements and tax computation by the due date is an offence.

IRAS may take the following recovery actions if you fail to file by the due date:

  1. Issue an estimated Notice of Assessment. You must pay the estimated tax within 1 month
  2. Offer to compound the offence
  3. Issue a Section 65B(3) notice to your company director to submit the required information in the Corporate Income Tax Returns to IRAS
  4. Issue a Notice to Attend Court/ Summons to the company or persons responsible for running of the company (including the directors)

 

Staying compliant doesn’t have to be overwhelming. By understanding Singapore’s tax framework and partnering with experts, small businesses can turn tax season into a strategic advantage.

 

For official guidelines, refer to:

  1. IRAS Corporate Tax Overview – (https://www.iras.gov.sg/taxes/corporate-income-tax/basics-of-corporate-income-tax/basic-guide-to-corporate-income-tax-for-companies)
  2. IRAS Filing Deadlines – (https://www.iras.gov.sg/due-dates)

Next Steps

Need assistance with tax filings or corporate compliance? Our team specializes in supporting small businesses. Contact us today for a stress-free tax season!