WebJul 1, 2024 · 20. Minimum corporate income tax (MCIT) on gross income, beginning in the fourth taxable year following the year of commencement of business operations. MCIT is imposed where the CIT at 25% is less than 2% MCIT on gross income. 2 (1% from 1 July 2024 to 30 June 2024) WebIn Singapore, donations to eligible charities will allow you to claim a 250% tax relief. You get an SGD 2.5 off your taxable income for every dollar spent. However, to qualify for a tax …
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