Yes, eligible startups can enjoy a 75% tax exemption on the first S$100,000 of normal chargeable income for the first three consecutive years.
The company must not have more than 20 shareholders throughout the basis period for that Year of Assessment where:
- all the shareholders are individuals beneficially and directly holding the shares in their own names; or
- at least one shareholder is an individual beneficially and directly holding at least 10% of the issued ordinary shares of the company
- the company is not a property and investment holding company