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Singapore's taxation rate is one of the most competitive in the world. After deducting personal reliefs, personal income taxes are levied on a graduated scale which starts at 0% and is capped at a favourable 22%. There is no tax on income derived and received outside of Singapore, and no capital gains or estate taxes to worry about.

Chargeable Income (SGD$) Income Rate (%) Gross Tax Payable (SGD$)
First $20,000
Next $10,000
First $30,000
Next $10,000
First $40,000
Next $40,000
First $80,000
Next $40,000
First $120,000
Next $40,000
First $160,000
Next $40,000
First $200,000
Next $40,000
First $240,000
Next $40,000
First $280,000
Next $40,000
First $320,000
In excess of $320,000

You will need to pay taxes, and the amount of tax that you pay depends on how much you have earned and on your tax residency in Singapore.

As a resident, you will be taxed on all income earned in Singapore and any overseas income that was brought into Singapore prior to 1 Jan 2004. Your income, after deduction of tax reliefs, will be taxed at progressive resident rates. The foreign-sourced income (with the exception of those received through partnerships in Singapore) brought into Singapore on or after 1 Jan 2004 is tax exempt.

Tax implications at a glance

If your period of stay (including work) in Singapore  Resident status   Tax implications
Is 60 days or less Non-resident Your short term employment income is exempt from tax. 
Is 61 to 182 days in a year Non-resident Your income earned in Singapore will be taxed at 15% or progressive resident rates, whichever is higher. Director's fees and other income earned in or derived from Singapore are taxed at the prevailing rate of 22%
Is at least 183 days in a year Resident for that year All your income will be taxed at progressive resident rates.  You may claim tax reliefs.
Is at least 183 days for a continuous period over two years Resident for both years  As above
Covers three consecutive years Resident for both years  As above

Please refer to the Inland Revenue Authority of Singapore's website at www.iras.gov.sg for more information.

If you are a Singaporean, or Singapore Permanent Resident (SPR) who has established your permanent home in Singapore, or foreigner who has stayed/worked in Singapore for 183 days or more in the previous year, you will need to pay tax. Non-residents are exempted from paying income tax if they have been employed for 60 days or less of a calendar year, unless they are directors, public entertainers or practising a profession in Singapore. Non-residents are taxed only on income earned in Singapore at a flat rate of 15% or the resident rates, whichever is higher. Non-residents may not claim for personal reliefs.

CPF is mandatory for foreigners only if they are Permanent Residents (PRs). Contribution rates for the first two years as a PR are reduced. For more information on PR contribution rates to CPF, visit the CPF website.

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