Free Profit & Loss Template (Singapore)
Free Excel P&L (income statement) template for Singapore SMEs — SG-relevant expense lines like CPF and SDL, percent-of-revenue column, and a 17% tax note.
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What this template is
A profit and loss statement (income statement) in Excel: revenue down to gross profit, an operating-expense block with the lines a Singapore SME actually has — salaries, CPF contributions and SDL, rent, professional fees — through to profit before tax and net profit.
A percent-of-revenue column computes automatically, so you can see at a glance that, say, rent is creeping from 8% to 12% of revenue.
How to use it
- Set the reporting period at the top (a month, a quarter, or the financial year).
- Enter revenue and cost of sales — gross profit and margins compute automatically.
- Fill in each operating expense line for the period. Amounts should exclude GST if you are GST-registered (GST is a pass-through, not your cost).
- Review the percent-of-revenue column against last period — trends matter more than absolute numbers.
Made for Singapore
- Amounts should exclude claimable GST for GST-registered businesses — GST you collect and reclaim flows through the balance sheet, not the P&L.
- CPF contributions and SDL get their own line — employer CPF adds up to 17% on top of salaries for most employees, and burying it in "salaries" hides your true staff cost.
- The tax row is an estimate: Singapore’s headline corporate rate is 17%, but most SMEs pay well below that thanks to the partial tax exemption on the first S$200,000 of chargeable income — check IRAS for the current exemption scale.
Frequently asked questions
Should P&L figures include GST?
Not if you are GST-registered: revenue and expenses go in net of GST, because GST is money you collect for (or reclaim from) IRAS, not income or cost. Non-registered businesses record GST-inclusive costs since they can’t reclaim it.
How is taxable profit different from net profit here?
The P&L’s profit before tax is an accounting figure. IRAS taxes chargeable income, which adjusts for non-deductible expenses, capital allowances and exemptions — so the tax row in this template is an estimate, not your actual bill.
Do I need a P&L to file taxes in Singapore?
Yes — every company files Form C-S or C with IRAS based on accounts that include a P&L, and ACRA requires financial statements for annual returns. This template is for management use; your year-end statutory accounts should come from your accountant or software.
More free templates
- Free Cash Flow Forecast Template (Singapore) — GST payments to IRAS, CPF contributions, and PayNow receipts as first-class line items
- Free Balance Sheet Template (Singapore) — assets, liabilities and equity with GST and CPF payable lines, plus a built-in balancing check
- Free Invoice Template (Singapore) — IRAS-compliant tax invoice layout with GST at 9%, UEN and GST registration fields, and PayNow payment details
Last reviewed 3 July 2026. Tax rates and thresholds change — verify against IRAS before relying on them.