Individual Income Tax Rates in Singapore

The Singapore individual income tax rates are compelling attractions for foreigners who are intending to relocate to the country. Broadly, the Inland Revenue Authority of Singapore (IRAS) – Singapore’s tax regulator – regards non-Singaporeans and non-Singapore Permanent Residents as foreigners for tax purposes.

These individuals, depending on their type of tax-residency status, are required to pay income tax in Singapore on all income derived from or accumulated in the state. The following are the important points of the individual tax rate in Singapore:

Progressive resident tax rate starting at 0% and ending at 22% above S$320,000
No capital gain or inheritance tax
The income earned by individuals while working overseas is not* subject to taxation
Tax filing deadline for individuals using e-filing method falls on April 18 of each year, while paper filing is on April 15th

Singapore Personal Tax rates for resident individuals YA 2019

INDIVIDUAL TAX RATES OF TAX FOR YEAR 2018 (YEAR OF ASSESSMENT 2019)
	Chargeable Income	Income Tax Rate (%)	Gross Tax Payable ($)
On the first On the next	20,000 10,000	0 2	0 200
On the first On the next	30,000 10,000	– 3.5	200 350
On the first On the next	40,000 40,000	– 7	550 2,800
On the first On the next	80,000 40,000	– 11.5	3,350 4,600
On the first On the next	120,000 40,000	– 15	7,950 6,000
On the first On the next	160,000 40,000	– 18	13,950 7,200
On the first On the next	200,000 40,000	– 19	21,150 7,600
On the first On the next	240,000 40,000	– 19.5	28,750 7,800
On the first On the next	280,000 40,000	– 20	36,550 8,000
On the first In excess of	320,000 320,000	– 22	44,550

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Tax Rates for non-residents in Singapore

From YA 2017, the tax rates for non-resident individuals (except certain reduced final withholding tax rates) has been raised from 20% to 22%. This is to maintain parity between the tax rates of non-resident individuals and the top marginal tax rate of resident individuals.

	Type of Income	Non-resident individual tax rate/withholding tax rate from YA 2018
1	Director’s remuneration	22%
2	Income derived from activity as a non-resident professional (consultant, trainer, coach, etc.)	15% of gross income or 22% of net income
3	Income derived from activity as a non-resident public entertainer (artiste, musician, sportsman, etc.)	10% concessionary rate (No change)
4	Other income e.g. property rental income	22%
5	SRS withdrawal by a non-citizen SRS member	22%
6	Interest, royalty etc.	Reduced final withholding tax rate (subject to conditions) as follows: Interest: 15% Royalty: 10% OR 22% if reduced final withholding tax rate is not applicable.

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Less than or equal to 60 days

For foreigners who exercise employment in Singapore for fewer than or equal to 60 days in a year, your employment income is exempt from income tax.

It is crucial to note this exemption is non-applicable to company directors, public entertainers, foreign experts, foreign speakers, queen’s counsels, consultants, trainers, coaches, etc., (all these come under the category of “professionals”).

Similarly, this rule will not apply if your absences from Singapore are incidental to your Singapore employment. In this situation, your total remuneration (including income for services rendered outside Singapore) is fully taxable in the country.

Note:

Every foreigner who has issued a work pass of at least one-year validity in Singapore is treated as a tax-resident up front by the IRAS. Later, when the foreigner’s employment ceases, the tax-residency status is reviewed again. If the stay or work was less than 183 days, the foreigner’s status is changed to being a non-resident.

* taxation barring few exceptions

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