Singapore

Individual - Taxes on personal income

Last reviewed - 03 May 2023

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