Comparing Singapore
with other countries
| Factors | Singapore | India | Philippines | Sri Lanka | Malaysia |
| Corporate Tax Rate |
17% (flat rate, among the lowest in Asia) |
25% (standard) 22% (for new manufacturing companies) |
30% (standard) 20% (for small businesses) |
14% (for most businesses) 28% (for large companies) |
24% (standard) 18% (for small companies) |
| Administrative Burden |
Low
Efficient online systems |
Higher
Complex regulations |
Moderate |
Moderate
Complex paperwork and local regulations |
Moderate
Streamlined systems for business setup |
| Tax Incentives and Exemptions |
Tax exemptions for new startups
R&D tax incentives GST exemptions for small businesses |
Tax holidays for specific sectors R&D incentives
Export incentives |
Investment incentives Incentives for export-oriented businesses |
Tax holidays for new industries
Export incentives |
Tax exemptions (specific sectors)
R&D incentives
Investment tax allowances |
| International Consideration | Extensive DTAAs with over 80 countries |
DTAAs with over 80 countries Complex tax rules for foreign income |
DTAAs with over 40 countries | DTAAs with over 40 countries | DTAAs with over 70 countries |
| Ease of Doing Business |
High
Low corruption
Stable and strong legal frameworks |
Moderate
Regulatory burdens |
Moderate
Slow bureaucracy |
Moderate
|
High Consistently ranked among the top for ease of doing business |