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Singapore

Individual - Taxes on personal income

Income is taxable when it accrues in or is derived from Singapore, whether or not the individual is resident in Singapore. Income derived from sources outside Singapore is only taxable if it is received in Singapore by a resident individual through a partnership in Singapore.

Resident individuals are entitled to certain personal reliefs and deductions, and are subject to graduated tax rates ranging from 0% to 22% (24% from year of assessment 2024). Non-resident individuals are not entitled to any personal reliefs and deductions, and are subject to tax at a flat rate of 22% (24% from year of assessment 2024). As a concession, employment income of non-residents is taxed at the higher of a flat rate of 15% or the graduated resident rates with personal reliefs. This concession does not apply to non-resident directors.

Individual income tax rates

Residents

A resident individual's taxable income (after setoff of personal reliefs and deductions) is subject to income tax at progressive rates. Current rates for the years of assessment 2023 and 2024 (income years 2022 and 2023) are shown below.

Taxable income (SGD*)
Over (column 1) Not over
0 S$20,000
$20,000 $30,000
$30,000 $40,000
$40,000 $80,000
$80,000 $120,000
$120,000 $160,000
$160,000 $200,000
$200,000 $240,000
$240,000 $280,000
$280,000 $320,000
$320,000 $500,000 
$500,000 $1,000,000
$1,000,000
Year of assessment 2023
Tax on column 1 (SGD) Percentage on excess (%) 
- -
- 2.00%
$200 3.50%
$550 7.00%
$3,350 11.50%
$7,950 15.00%
$13,950 18.00%
$21,150 19.00%
$28,750 19.50%
$36,550 20.00%
$44,550 22.00%
$84,150 22.00%
$194,150 22.00%
Year of assessment 2024
Tax on column 1 (SGD) Percentage on excess (%) 
- -
- 2.00%
$200 3.50%
$550 7.00%
$3,350 11.50%
$7,950 15.00%
$13,950 18.00%
$21,150 19.00%
$28,750 19.50%
$36,550 20.00%
$44,550 22.00%
$84,150 23.00%
$199,150 24.00%

* Singapore dollars

Non-residents

Non-resident individuals are taxed at a flat rate of 22% (24% from year of assessment 2024), except that employment income is taxed at a flat rate of 15% or at resident rates with personal reliefs, whichever yields a higher tax. A non-resident director’s remuneration does not qualify for the reduced rate, and withholding tax (WHT) at 22% (24% from year of assessment 2024) must be deducted from remuneration paid to a non-resident director.

FAQs

What is the income tax rate in Singapore?
Singapore personal tax rates start at 0% and are capped at 22% (above S$320,000) for residents and a flat rate of 15% to 22% for non-residents. To increase the resilience of taxes as a source of government revenue, Goods and Services Tax (GST) was introduced in 1994. The current GST rate is 7%.
Is income tax high in Singapore?
Singapore follows a progressive resident tax rate starting at 0% and ending at 22% above S$320,000. There is no capital gain or inheritance tax. Individuals are taxed only on the income earned in Singapore. The income earned by individuals while working overseas is not subject to taxation barring a few exceptions.
Do foreigners pay income tax in Singapore?
Tax treatment of non-residents. As a non-resident: You will be taxed on all income earned in Singapore; You may claim deductions on expenses and donations to save tax.
What salary is needed to live comfortably in Singapore?
Anything around ₹ 33 lakhs qualifies to be a good yearly salary in Singapore. Based on reports for 2022, average salaries are anywhere around S$5,783 per month or ₹ 3.24 lakhs, which is a good salary for the island nation.
Is it good to live in Singapore?
High standard of living: Singapore consistently ranks highly in global indexes for quality of life. It has a stable political environment, low crime rates, and efficient public services. The country also has a strong economy, with low unemployment and high salaries compared to other countries in the region.
What is the 183 days tax rule in Singapore?
If you stay or work in Singapore for a continuous period of at least 183 days over two years, your income will be taxed at resident rates for individuals. If you stay or work in Singapore for three consecutive years, your income for all years will be taxed at resident rates.
Is Singapore taxed at 24%?
From 2024 onward, Singapore will increase the headline personal income tax rate to 24 percent. Chargeable income between S$500,000 (US$370,000) to S$1 million will be taxed at 23 percent, while chargeable income in excess of S$1 million (US$741,000) will be taxed at 24 percent.

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