Corporate Income Tax Rate
2019-07-23
Other Banking Services
2019-08-15
Corporate Income Tax Rate
2019-07-23
Other Banking Services
2019-08-15

Personal Income Tax Rate


Income tax rates depend on an individual’s tax residency status. You will be treated as a tax resident for a particular Year of Assessment (YA) if you are a:

  1. Singapore Citizen (SC) or Singapore Permanent Resident (SPR) who resides in Singapore except for temporary absences; or
  2. Foreigner who has stayed / worked in Singapore (excludes director of a company) for 183 days or more in the year preceding the YA.

Otherwise, you will be treated as a non-resident of Singapore for tax purposes.

 

Resident Tax Rates

From YA 2017 onwards
Chargeable Income Income Tax Rate (%) Gross Tax Payable ($)
First $20,000
Next $10,000
0
2
0
200
First $30,000
Next $10,000

3.50
200
350
First $40,000
Next $40,000

7
550
2,800
First $80,000
Next $40,000

11.5
3,350
4,600
First $120,000
Next $40,000

15
7,950
6,000
First $160,000
Next $40,000

18
13,950
7,200
First $200,000
Next $40,000

19
21,150
7,600
First $240,000
Next $40,000

19.5
28,750
7,800
First $280,000
Next $40,000

20
36,550
8,000
First $320,000
In excess of $320,000

22
44,550

 

Tax Rates for Non-Residents

Taxes on Employment Income

The employment income of non-residents is taxed at the flat rate of 15% or the progressive resident tax rates (see table above), whichever is the higher tax amount.

Taxes on Director’s fee, Consultation fees and All Other Income

From YA 2017, the tax rates for non-resident individuals (except certain reduced final withholding tax rates) has been raised from 20% to 22%. This is to maintain parity between the tax rates of non-resident individuals and the top marginal tax rate of resident individuals.

Type of Income Non-resident individual tax rate / withholding tax rate from YA 2017
(a) Director’s remuneration 22%

See Tax Obligations for Non-Resident Directors

(b) Income derived from activity as a non-resident professional (consultant, trainer, coach, etc.) 15% of gross income or 22% of net income

See Taxable Income of Non-Resident Professionals

 

(c) Income derived from activity as a non-resident public entertainer (artiste, musician, sportsman, etc.) 10% concessionary rate (No change)

See Tax for Non-Resident Public Entertainers

 

 

(d) Other income e.g. rental income derived from a Singapore property 22%

See Foreigners with Property in Singapore

(e) SRS withdrawal by a non-citizen SRS member 22%

See Withholding Tax on SRS

(f) Interest, royalty etc. Reduced final withholding tax rate (subject to conditions) as follows:
Interest: 15%
Royalty: 10% OR 22% if reduced final withholding tax rate is not applicable. See Withholding Tax Rates for Individuals (PDF, 262KB)
(g) Pension 22%

 

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Accounting and Corporate Regulatory Authority of Singapore licensed corporate advisory firm.
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