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Editorial

Tax breaks for F&B industry in Singapore

February 2011 - Tax & Private Client. Legal Developments by ATMD Bird & Bird LLP .

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Currently, companies doing business in Singapore pay income tax at the corporate tax rate of 17%, effective from Year of Assessment 2010. Partial tax exemptions of 75% of the first S$10,000 of chargeable income and of a further 50% on the next S$290,000 of chargeable income, provide for tax exemption of S$152,500 on the first S$300,000 of a company’s chargeable income. Companies can achieve more tax savings under specific tax regimes.

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