Tax Exemption Scheme

The tax exemption scheme for newly incorporated companies was introduced in Year of Assessment (YA) 2005 and further enhanced in YA 2008.

Under this scheme, a newly incorporated company that meets the qualifying conditions can claim full tax exemption (100%) on the first $100,000 of Chargeable Income for the first three YAs from incorporation. 

A further 50% exemption is given on the next $200,000 of the Chargeable Income for the first three YAs from incorporation. 

If a company does not meet the qualifying conditions, there are still tax exemptions that it will be able to enjoy. Do contact us at shamala@mss-consultancy.com to find out more.