IRAS — Inland Revenue Authority of Singapore

The Inland Revenue Authority of Singapore (IRAS) is Singapore’s central tax authority, responsible for the collection and administration of all national taxes. It operates under the Ministry of Finance and plays a key role in maintaining the tax competitiveness of Singapore as a financial center.

• Corporate Tax: Flat rate of 17% on chargeable income; numerous exemptions and startup tax benefits available. The Startup Tax Exemption (SUTE) scheme grants new companies 75% exemption on the first SGD 100,000 and 50% on the next SGD 100,000 of chargeable income for the first three years of assessment.
• Income Tax: Progressive rates up to 22%, with a top rate of 24% for income exceeding SGD 1 million (from YA 2024).
• GST (Goods and Services Tax): VAT equivalent, at 9% since 2024.
• No Capital Gains Tax: Disposal gains are generally tax-exempt. However, since 2024, exceptions apply for certain foreign disposal gains under the Foreign-Sourced Income Exemption (FSIE) regime.
• DTA Network: Around 100 double tax agreements worldwide.

IRAS was established in 1992 under the Inland Revenue Authority of Singapore Act (Cap. 138A) as a statutory board to consolidate previously government-administered tax functions and make them more efficient. Since then, it has developed into one of the most digitized tax authorities in Asia. Singapore’s tax system is based on the territorial principle: only income earned in or remitted to Singapore is generally taxable.

IRAS administers the following tax types:

• Corporate Income Tax
• Personal Income Tax
• Goods and Services Tax (GST)
• Stamp Duty
• Property Tax
• Betting and Sweepstake Duties
• Casino Tax
• Estate Duty (abolished since 2008)

• Tax Filing Obligation: Companies must annually file their corporate tax return (Form C or Form C-S) with IRAS.
• GST Registration: Mandatory when annual turnover exceeds SGD 1 million; voluntary registration possible.
• Withholding Tax: Withholding on certain payments to non-residents.
• Transfer Pricing: Arm’s length principle for intra-group transactions, documentation required.
• CRS/AEOI: Automatic exchange of information under OECD Common Reporting Standard, active since September 2018.
• Startup Tax Exemption (SUTE): New companies receive 75% exemption on the first SGD 100,000 and 50% on the next SGD 100,000 of chargeable income for the first three years of assessment.

"IRAS — Inland Revenue Authority of Singapore" was classified under theme "Jurisdiktion". Correct is "Steuer". National laws and authorities are classified by subject matter, not as Jurisdiction. Country profiles are classified as Jurisdiction.

2 updates:
- DTA count understated — over 90 vs. actually 98+
- last_amended should be updated — Budget 2025 changes
6 clarifications.
4 notes.