Singapore Personal Tax Rates for Residents
Individual tax residents in Singapore are subject to a progressive resident tax rate starting at 0% and capped at 22%. Tax residents with income <S$22,000 per annum do not need to pay tax. A Singapore resident is one who is a Singaporean citizen or a Singapore Permanent Resident with a local permanent address or a foreigner who has resided/worked in Singapore for >183 days in a tax year
The Progressive Resident Income Tax is outlined in the table below:
Chargeable Annual Income |
Income Tax Rate (%) |
|
First S$20,000 Next S$10,000 |
0 2 |
|
First S$30,000 Next S$10,000 |
– 3.5 |
|
First S$40,000 Next S$40,000 |
– 7 |
|
First S$80,000 Next S$40,000 |
– 11.5 |
|
First S$120,000 Next S$40,000 |
– 15 |
|
First S$160,000 Next S$40,000 |
– 18 |
|
First S$200,000 Next S$40,000 Next S$40,000 Next S$40,000 |
– 19 19.5 20 |
|
First S$320,000 >S$320,000 |
– 22 |
Singapore Personal Tax Rates for Non-residents
An individual who is a foreigner who stayed or worked in Singapore for <183 days in a tax year is considered a non-resident. A non-resident’s tax obligations are briefly outlined below:
- A non-resident on short-term employment for <60 days in a year is exempt from taxation in Singapore. A non-resident who is a company director, public entertainer or exercising a profession in Singapore is not exempted
- A non-resident is taxed at 15% or the progressive resident rate, whichever yields a higher tax amount, based on all income earned locally. Personal tax reliefs are not applicable
- Director fees, consultant fees and all other incomes are taxed at 20%
Singapore does not impose any Captital Gains Tax or Inheritance Tax (Estate Duty).
For more information or assistance regarding Personal Income Tax Rates or Annual Tax Filing, contact us today.