Full corporate tax exemption is on normal chargeable income up to $100,000 for the first three consecutive tax filing years. Thus is only granted to start-ups that meet the following criteria:
- Singapore incorporated company
- Tax resident in Singapore for the applicable year
- Have no more than 20 shareholders in that year,
- At least 10% of the shareholders must be individuals
- Should a company not meet the requisite criteria, it would still be eligible for a partial exemption.