• Income Tax Rates in Singapore(updated 2017)

    Residents and non-residents of Singapore have to pay taxes. The income tax rate, however, is based on the tax residency status of the individual.

    You will be considered a tax resident for a Year of Assessment (YA) under the following circumstances:

    • You are a Singapore citizen or a Permanent Resident residing in Singapore OR
    • You are a foreigner staying and/or working in Singapore (except if you are a company’s director) for a minimum of 183 days in the last year (before the current Year of Assessment).

    If neither of the above circumstances are applicable to you, you will be considered a non-resident of Singapore for the purpose of paying taxes.

    Resident Tax Rates for YA 2017

    Income chargeable for Income Tax

    Income Tax Rate

    Gross Tax Payable

    Initial S$20,000 Next S$10,000

    0% 2%

    S$0 to S$200

    Initial S$30,000 Next S$10,000

    Not Applicable 3.50%

    S$200 to S$350

    Initial S$40,000 Next S$40,000

    Not Applicable 7%

    S$550 to S$2,800

    Initial S$80,000 Next S$40,000

    Not Applicable 11.5%

    S$3,350 to S$4,600

    Initial S$120,000 Next S$40,000

    Not Applicable 15%

    S$7,950 to S$6,000

    Initial S$160,000 Next S$40,000

    Not Applicable 18%

    S$13,950 to S$7,200

    Initial S$200,000 Next S$40,000

    Not Applicable 19%

    S$21,150 to S$7,600

    Initial S$240,000 Next S$40,000

    Not Applicable 19.5%

    S$28,750 to S$7,800

    Initial S$280,000 Next S$40,000

    Not Applicable 20%

    S$36,550 to S$8,000

    Initial S$320,000 Post S$320,000

    Not Applicable 22%

    S$44,550

    Update for YA 2017: Residents can get a personal tax rebate of 20% of the taxes payable up to S$500.

    Did you know?

    The personal income tax rates for Singapore residents is progressive, i.e. if you are resident earning a higher income, then you will pay proportionately higher taxes. Currently, 22% is the highest personal income tax rate.

    Resident Tax Rates between YA 2013 and YA 2016

    Income chargeable for Income Tax

    Income Tax Rate

    Gross Tax Payable

    Initial S$20,000 Next S$10,000

    0% 2%

    S$0 to S$200

    Initial $30,000 Next $10,000

    Not Applicable 3.50

    S$200 to S$350

    Initial S$40,000 Next $40,000

    Not Applicable 7%

    S$550 to S$2,800

    Initial S$80,000 Next $40,000

    Not Applicable 11.5%

    S$3,350 to S$4,600

    Initial S$120,000 Next S$ 40,000

    Not Applicable 15%

    S$7,950 to S$6,000

    Initial S$160,000 Next S$ 40,000

    Not Applicable 17%

    S$13,950 to S$6,800

    Initial S$200,000 Next S$120,000

    Not Applicable 18%

    S$20,750 to S$21,600

    Initial S$320,000 Post S$320,000

    Not Applicable 20%

    S$42,350

    Non-Resident Tax Rates YA 2017

    Non-residents are required to pay an employment income tax of 15% or progressive tax rates paid by residents, depending on whichever of the two tax amounts is higher.

    Non-resident tax rates starting from YA 2017 has been increased to 22% from the earlier 20% with the exception of some reduced final withholding tax rates. Income tax by non-residents will be paid according to the type of income earned.

    Income Type

    YA 2017 non-resident tax rates for individuals/withholding tax rate

    Salary earned by directors 

    22%

    Non-resident professionals earning income from activities such as trainers, consultants, coaches, etc.

    22% of your net income or 15% of your gross income

    Non-resident professionals earning income from activities related to public entertainment such as musicians, artists, sportsmen, etc.

    Concessionary rate of 10% (No change made on this tax rate)

    SRS withdrawal made by SRS members who are non-citizens

    22%

    Other income earned by non-residents such as property rental income

    22%

    Income earned from interest or royalty, etc. 

    Reduced final withholding tax rate subject to the following conditions: 

      • Royalty: 10%

      • Interest: 15% OR

      • If the reduced final withholding tax rate does not apply to you: 22%

    Corporate Tax Rates

    Since YA 2010, all companies in Singapore, whether local or foreign, will be taxed at a flat income tax rate of 17% on the company’s chargeable income.

    This is what the corporate tax rates in Singapore have looked like over the years:

    YA

    Between 2005 and 2007

    Between 2008 and 2009

    2010 onwards

    Income Tax

    20%

    18%

    17%

    Corporate Income Tax Rebates/SME Cash Grants for different Years of Assessment:

    Year of Assessment

    Corporate Income Tax Rebates/SME Cash Grants

    Rebate cap

    YA 2011

    5% SME Cash Grant or 20% Corporate Income Tax Rebate, depending on whichever of the two is higher

    Not Applicable

    YA 2012

    5% SME Cash Grant on a one-off basis

    Not Applicable

    YA 2013, 2014 and 2015

    Corporate Income Tax Rebate of 30%

    S$30,000 per YA

    YA 2016

    Corporate Income Tax Rebate of 50%

    S$20,000

    YA 2017

    Corporate Income Tax Rebate of 50%

    S$25,000

    YA 2018

    Corporate Income Tax Rebate of 20%

    S$10,000

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