Partial tax exemption for companies (from YA 2020)
| Chargeable income |
% exempted from Tax |
Amount exempted from Tax |
| First $10,000 |
@75% |
=$7,500 |
| Next $190,000 |
@50% |
=$95,000 |
| Total $200,000 |
|
=$102,500 |
Tax exemption scheme for new start-up companies (where any of the first 3 YAs falls in or after YA 2020)
| Chargeable income |
% exempted from Tax |
Amount exempted from Tax |
| First $100,000 |
@75% |
=$75,000 |
| Next $100,000 |
@50% |
=$50,000 |
| Total $200,000 |
|
=$125,000 |
Partial tax exemption for companies (YA 2010 to YA 2019)
| Chargeable income |
% exempted from Tax |
Amount exempted from Tax |
| First $10,000 |
@75% |
=$7,500 |
| Next $290,000 |
@50% |
=$145,000 |
| Total $300,000 |
|
=$152,500 |
Tax exemption scheme for new start-up companies (where any of the first 3 YAs falls in YA 2010 to YA 2019)
| Chargeable income |
% exempted from Tax |
Amount exempted from Tax |
| First $100,000 |
@100% |
=$100,000 |
| Next $200,000 |
@50% |
=$100,000 |
| Total $300,000 |
|
=$200,000 |
YA 2020
Companies will be granted a 25% Corporate Income Tax Rebate capped at $15,000.
YA 2019
Companies will be granted a 20% Corporate Income Tax Rebate capped at $10,000.
YA 2018
Companies will be granted a 40% Corporate Income Tax Rebate capped at $15,000
