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: 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.
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