Singapore Income Tax Rates

Income Tax Rates Singapore

Whether you’re a resident or a non-resident of Singapore, you have to pay taxes. Your income tax rate, however, is based on your tax residency status. You are considered a tax resident for a Year of Assessment (YA) based on the following circumstances:

  • You are a Singapore citizen or a Permanent Resident residing in Singapore.
  • 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 applies to you, you will be considered a non-resident of Singapore for the purpose of paying taxes.

Singapore Personal Income Tax Rates YA 2017-18

Tax Bracket Income Tax Rate Gross Tax Payable
S$20,000 - S$10,000 0% -2% S$0 -S$200
S$30,000 - S$10,000 Not Applicable -3.50% S$200 -S$350
S$40,000- S$40,000 Not Applicable -7% S$550 -S$2,800
S$80,000 - S$40,000 Not Applicable-11.5% S$3,350 -S$4,600
S$120,000 - S$40,000 Not Applicable -15% S$7,950 -S$6,000
S$160,000 - S$40,000 Not Applicable -18% S$13,950- $ 7,200
S$200,000 - S$40,000 Not Applicable -19% S$21,150 -S$7,600
S$240,000 - S$40,000 Not Applicable -19.5% S$28,750 -S$7,800
S$280,000 - S$40,000 Not Applicable -20% S$36,550 -S$8,000
S$320,000 -Post-S$ 320,000 Not Applicable -22% S$44,550

Income Tax Rates Update: What’s new for YA 2018

  • For 2018 onwards, there will be a cap on income tax reliefs. You will now be able to claim only up to S$80,000 in overall reliefs.
  • If you are an expatriate, the 20% tax concession you enjoyed for passage during home leave will not be applicable YA 2018 onwards.

Personal Income Tax Rates for Residents YA 2014-16

Tax Bracket Income Tax Rate Gross Tax Payable
S$20,000 - S$10,000 0% -2% S$0 -S$200
$30,000 - $10,000 Not Applicable -3.50% S$200 -S$350
S$40,000 - $40,000 Not Applicable -7% S$550 - S$2,800
S$80,000 - $40,000 Not Applicable-11.5% S$3,350 -S$4,600
S$120,000 - S$ 40,000 Not Applicable -15% S$7,950 -S$6,000
S$160,000 - S$ 40,000 Not Applicable -17% S$13,950 -S$6,800
S$200,000 - S$120,000 Not Applicable -18% S$20,750 -S$21,600
S$320,000 -Post-S$ 320,000 Not Applicable -20% S$42,350

Filing taxes for a YA starts 1 March. You can file your taxes one of two ways:

  • You can e-file by 18 April.
  • You can paper file by 15 April.

If you decide to e-file your taxes, you will need an IRAS PIN or a SingPass. When filing your tax return, you can either file using your mobile phone or on your desktop.

Income Tax Rates for Non-Residents YA 2018

Income Type Tax Rates for Non-Residents/Withholding Tax Rate
Salary earned by directors 22%
Professionals such as consultants, trainers, etc. Either 22% of net income or 15% of gross income
Non-resident professionals such as musicians, sportspersons, or artists, etc. who earn income from public entertainment 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 Updates

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
OF 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 YES
OF 2016 Corporate Income Tax Rebate of 50% S$20,000
OF 2017 Corporate Income Tax Rebate of 50% S$25,000
OF 2018 Corporate Income Tax Rebate of 40% S$15,000
OF 2019 Corporate Income Tax Rebate of 20% S$10,000
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