In 2018, the tax rate for medium sized business in Singapore was approximately 21 percent of commercial profits. In 2019, Singapore was ranked second out of 190 countries for ease of doing business.
Total tax rate as a percentage of profits for medium sized businesses in Singapore from 2014 to 2018
for calender year starting January 1 to December 31; data collection completed on May 2019
Supplementary notes
As per the source, the total tax rate measures the amount of taxes payable by medium-size businesses after accounting for deductions and exemptions, expressed as a share of commercial profits. The taxes withheld (such as sales or value added tax or personal income tax) but not paid by the company are excluded. The total tax rate is designed to provide a comprehensive measure of the cost of all the taxes a business bears.
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Doing Business. (October 24, 2019). Total tax rate as a percentage of profits for medium sized businesses in Singapore from 2014 to 2018 [Graph]. In Statista. Retrieved September 20, 2024, from https://www.statista.com/statistics/730956/singapore-total-tax-rate-for-medium-sized-businesses/
Doing Business. "Total tax rate as a percentage of profits for medium sized businesses in Singapore from 2014 to 2018." Chart. October 24, 2019. Statista. Accessed September 20, 2024. https://www.statista.com/statistics/730956/singapore-total-tax-rate-for-medium-sized-businesses/
Doing Business. (2019). Total tax rate as a percentage of profits for medium sized businesses in Singapore from 2014 to 2018. Statista. Statista Inc.. Accessed: September 20, 2024. https://www.statista.com/statistics/730956/singapore-total-tax-rate-for-medium-sized-businesses/
Doing Business. "Total Tax Rate as a Percentage of Profits for Medium Sized Businesses in Singapore from 2014 to 2018." Statista, Statista Inc., 24 Oct 2019, https://www.statista.com/statistics/730956/singapore-total-tax-rate-for-medium-sized-businesses/
Doing Business, Total tax rate as a percentage of profits for medium sized businesses in Singapore from 2014 to 2018 Statista, https://www.statista.com/statistics/730956/singapore-total-tax-rate-for-medium-sized-businesses/ (last visited September 20, 2024)
Total tax rate as a percentage of profits for medium sized businesses in Singapore from 2014 to 2018 [Graph], Doing Business, October 24, 2019. [Online]. Available: https://www.statista.com/statistics/730956/singapore-total-tax-rate-for-medium-sized-businesses/