Residents
A resident individual's taxable income (after setoff of personal
allowances) is subject to income tax at progressive rates. Current
rates for years of assessment 2015 to 2017 (income years 2014 to
2016) are shown below.
| Taxable Income (SGD) | Assessment Year 2014-2015 | Assessment Year 2017 |
| 0 to 20,000 |
0% |
0% |
| 20,000 to 30,000 |
2% |
2% |
| 30,000 to 40,000 |
3.5% |
3.5% |
| 40,000 to 80,000 |
7% |
7% |
| 80,000 to 120,000 |
11.5% |
11.5% |
| 120,000 to 160,000 |
15% |
15% |
| 160,000 to 200,000 |
17% |
18% |
| 2,00,000 to 2,40,000 |
18% |
19% |
| 240,000 to 2,80,000 |
18% |
19.5% |
| 280,000 to 3,20,000 |
18% |
20% |
| 320,000 above |
20% |
22% |
For the year of assessment 2015, resident individuals will receive a one-off tax rebate of 50%, capped at SGD 1,000.
Non-resident individuals are taxed at 20%, except that Singapore 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 tax at 20% must be deducted from remuneration paid to a non-resident director. With effect from year of assessment 2017 (income year 2016), the non-resident individual tax rates will increase to 22%.
There are no other taxes on income in Singapore.
Singapore Income Tax Rate for Individual Tax Payers
Lowest Individual Tax Rate in Singapore is 2% and Highest Rate is 20%
Residents
| Taxable Income (SGD) | Tax Rate Year 2013-2014 |
| 0 - 20,000 |
0% |
| 20,000 - 30,000 |
2% |
| 30,000 - 40,000 |
3.5% |
| 40,000 - 80,000 |
7% |
| 80,000 - 120,000 |
11.5% |
| 120,000 - 160,000 |
15% |
| 160,000 - 200,000 |
17% |
| 2,00,000 - 3,20,000 |
18% |
| 320,000 above |
20% |
For YA 2013, a personal tax rebate of up to a maximum of $1,500 is granted as follows:
30% rebate for taxpayers below 60 years of age as at 31 Dec 2012
50% rebate for taxpayers 60 years of age & above as at 31 Dec 2012
Non Resident Individuals
Employment income
Your employment income is taxed at 15% or resident rate,
whichever gives rise to a higher tax amount.
Director's fees, consultation fees & all other income
The director's fees, consultation fees and all other income that
you received will be taxed at 20% from YA 2005 onwards.
The corporate tax rate is 17%. From the Year of Assessment (YA) 2013 to 2015, companies will receive a 30% corporate income tax rebate capped at SGD30,000 per YA. There is a partial exemption of 75% on the first SGD10,000 and 50% on the next SGD290,000 of the company's income. Start-up tax exemption can be granted on the regular income of a qualifying company on its first SGD100,000, and a further 50% exemption is given on the next SGD200,000, for each of its first three consecutive years of assessment. A concessionary tax rate of 10% or lower applies to qualified entities.
Individuals
Your completed paper tax form by 15 April. If you e-File, you have up to 18 Apr to do so.
If you cannot submit your form by 15 April. Please send in your application to extend the filing due date before 31 Mar by email, fax or post.
In your application, please provide the following:
your full name and tax reference number
reason for your request
an estimate of your chargeable income
Companies
e-File Form C-S (Recommended) 15 December
File Paper Form C-S 30 November
File Form C 30 November