facebookDoes it make sense to form a company if I wish to save on income tax? - Seedly

Anonymous

06 Nov 2019

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Career

Does it make sense to form a company if I wish to save on income tax?

For a freelancer doing Digital Marketing work?

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Gabriel Tham

06 Nov 2019

Tag Team Member at Kenichi Tag Team

Here is the table for corporate tax rates https://www.iras.gov.sg/irashome/Quick-Links/Ta...
You should compare this with your personal income and see which is higher. In any case, if you form a company, you probably need to declare a salary for yourself which is also taxable.
And you also need to account for your company's books and accounting. Cannot anyhow use company funds for personal uses.

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