The Singapore tax system is one of the most important factors that make the nation become a well-known business attraction for many foreign investors. In addition to the appealing corporate tax rate, there are many more beneficial tax schemes and incentives.

Singapore adopts a territorial basis of taxation. In particular, a company established in the city-state is only taxed on the income which is a Singapore-based source of income (arise within the Singapore territory), or a foreign-based source of income remitted to Singapore.

Learn more about many types of Singapore taxes in here: https://bbcincorp.sg/business-guide/taxation-in-singapore