Singapore Introduces Significant New Tax Benefits for Small-to-Midsize Companies

With the introduction of http://www.asiabizsetup.com/singapore-company-tax-benefits-budget-2007.aspx[new tax cuts and benefits __title__ Singapore Company Tax Cuts], Singapore is well on its way to b

New startups will enjoy a full-tax exemption of 100K during the first three years of their business. Moreover, all companies will enjoy a partial tax exemption from 50% to 75% annually for up-to 300K of taxable income. Corporate tax rate will drop from 20% to 18%. For small-to-midsize companies, these cuts bring the effective tax rate to significantly lower than Honk Kong's and make Singapore a very attractive destination for incorporating and growing a business. A Singapore company with profits around 300K will now have an effective tax rate of only about 9%.

The new tax regime along with Singapore's excellent position as a reputable jurisdiction makes Singapore as one of the best places for http://www.asiabizsetup.com/singapore-company-registration.aspx[starting and growing a company __title__ Singapore Company Formation].

"Singapore is already rated as #1 in the world for ease of doing business. We are excited to see that the government continues to focus on globalization, attracting large and small companies, and building a business framework for the future." said Samir Malhotra, Head of Business Strategy at AsiaBiz Singapore. "Foreign entrepreneurs and companies wishing to register a Singapore company can take advantage of our ready-made http://www.asiabizsetup.com/singapore-business-setup-needs.aspx[Singapore Incorporation Packages __title__ Singapore Company Formation Packages] to get started in no-time." he added.

Investors and businessmen throughout the world choose Singapore as their preferred location to setup and carry out entire range of their business activities. Singapore is an enterprise hub, and is on the lookout for entrepreneurs and visionaries, from Singapore and around the world, with ideas that we can help turn into successful businesses. Global business magazine Forbes has ranked Singapore the second best place in the world to start a business.

About AsiaBiz Singapore
Based in Singapore, AsiaBiz is the leading provider of corporate services to global entrepreneurs and small-to-mid-size companies doing business in Singapore. AsiaBiz Singapore helps entrepreneurs and foreign companies with:
• Singapore company registration and administration services
• Singapore visas for overseas employees relocating to Singapore
• Accounting and payroll services
• Year-end corporate tax compilation and filing services
• Singapore Virtual Office services
• Related corporate services

For more information, visit AsiaBiz website at http://www.AsiaBizSetup.com.

###

Press Contact: Samir Malhotra
Company Name: AsiaBiz Services Pte Ltd
Email: info@asiabizsetup.com
Phone: 6242 6533
Website: http://www.asiabizsetup.com/

2007-02-19 05:31:37 0005235 PRWEB