Singapore Corporate Tax 2022
Calculate tax payable for YA 2022 at 17% rate with Start-Up (SUTE) & Partial (PTE) Exemptions.
Introduction
🎯 What
Singapore Corporate Tax Calculator 2022 estimates tax liability for the 2022 Year of Assessment, applying the correct exemptions (SUTE or PTE) for start-ups and existing companies.
👥 Who
New start-ups (first 3 YAs), SMEs, and established companies filing corporate income tax returns in Singapore.
💡 Why
To maximize tax savings by correctly applying the Start-Up Tax Exemption (SUTE) or Partial Tax Exemption (PTE) schemes available in 2022.
🏢 Company Details
PTE applies to all companies unless qualifying for SUTE.
📊 Income & Expenses
⚙️ Capital & Deductions
Claim for equipment wear & tear.
Deductible amount (e.g. 2.5x).
Unutilised losses from previous years.
Added to chargeable income unless exemptions apply.
💵 Tax Summary
Detailed Calculation Steps
Singapore Corporate Tax Overview (2022)
Tax Exemptions (YA 2020 onwards)
Start-Up Tax Exemption (SUTE)
For first 3 YAs of qualifying new companies:
- First S$100,000: 75% Exempt
- Next S$100,000: 50% Exempt
Partial Tax Exemption (PTE)
For all other companies:
- First S$10,000: 75% Exempt
- Next S$190,000: 50% Exempt
General Rules
- ● Tax Rate: Flat 17% on Chargeable Income.
- ● Chargeable Income: Revenue less Allowable Expenses, Capital Allowances, and approved Donations.
- ● SUTE Eligibility: Must be incorporated in SG, tax resident, max 20 shareholders (one individual holding >10%).
Calculation Examples
Example 1: New Start-Up (SUTE)
Financials:
- • Chargeable Income: S$200,000
- • Status: Qualifying New Company
Tax Calculation:
- • First $100k (75% exempt): $25,000 taxable
- • Next $100k (50% exempt): $50,000 taxable
- • Total Taxable: $75,000
- • Tax Payable (17%): S$12,750
Example 2: Existing Company (PTE)
Details:
- • Chargeable Income: S$200,000
- • Status: Existing Company
Tax Calculation:
- • First $10k (75% exempt): $2,500 taxable
- • Next $190k (50% exempt): $95,000 taxable
- • Total Taxable: $97,500
- • Tax Payable (17%): S$16,575
Frequently Asked Questions
Q: How do i qualify for Start-Up Tax Exemption (SUTE)?
A: To qualify, your company must be incorporated in Singapore, be a tax resident for that YA, and have no more than 20 shareholders with at least one individual shareholder holding at least 10% of shares. Property and investment holding companies are excluded.
Q: What expenses are deductible?
A: Generally, expenses wholly and exclusively incurred in the production of income are deductible. This includes wages, rent, and accounting fees. Private expenses and capital expenses are not deductible.
Q: Can unutilised losses be carried back?
A: Yes, under the Loss Carry-Back Relief scheme, you may carry back up to S$100,000 of current year unutilised capital allowances and trade losses to the immediate preceding YA.
Q: Does this calculator include rebates?
A: No, this calculator computes basic tax payable before any Corporate Income Tax (CIT) Rebates that might be announced in the Budget for the specific year.
Disclaimer: This Singapore Corporate Tax Calculator 2022 is for informational and Google AdSense purposes only. Tax calculations are based on IRAS rules for YA 2022. Actual tax liability may vary due to specific company circumstances, eligibility for incentives, or CIT Rebates not factored into this basic estimation. ANTIGRAVITY does not provide legal, tax, or financial advice.