Income tax rates depend on an individual's tax residency status. You will be treated as a tax resident for a particular Year of Assessment (YA) if you are a :
- Singapore Citizen who normally resides in Singapore except for temporary absences; or
- Singapore Permanent Resident (SPR) who has established your permanent home in Singapore; or
- Foreigner who has stayed / worked in Singapore (excludes director of a company) for 183 days or more in the previous year. i.e. the year before the YA.
Otherwise, you will be treated as a non-resident of Singapore for tax purposes.
Resident Tax Rates
For YA 2012 to YA 2016
Chargeable Income
|
Income Tax Rate (%)
|
Gross Tax Payable ($)
|
|---|
First $20,000
Next $10,000
|
0
2
|
0
200
|
First $30,000
Next $10,000
|
-
3.50
|
200
350
|
First $40,000
Next $40,000
|
-
7
|
550
2,800
|
First $80,000
Next $40,000
|
-
11.5
|
3,350
4,600
|
First $120,000
Next $ 40,000
|
-
15
|
7,950
6,000
|
First $160,000
Next $ 40,000
|
-
17
|
13,950
6,800
|
First $200,000
Next $120,000
|
-
18
|
20,750
21,600
|
First $320,000
Above $320,000
|
-
20
|
42,350
|
Resident Tax Rates
For YA 2012 to YA 2016
Chargeable Income
|
Income Tax Rate (%)
|
Gross Tax Payable ($)
|
|---|
First $20,000
Next $10,000
|
0
2
|
0
200
|
First $30,000
Next $10,000
|
-
3.50
|
200
350
|
First $40,000
Next $40,000
|
-
7
|
550
2,800
|
First $80,000
Next $40,000
|
-
11.5
|
3,350
4,600
|
First $120,000
Next $ 40,000
|
-
15
|
7,950
6,000
|
First $160,000
Next $ 40,000
|
-
17
|
13,950
6,800
|
First $200,000
Next $120,000
|
-
18
|
20,750
21,600
|
First $320,000
Above $320,000
|
-
20
|
42,350
|
Tax Rates for Non-Residents
Taxes on Employment Income
The employment income of non-residents is taxed at flat rate of 15% or the progressive resident tax rates (see table above), whichever is a higher tax amount.
Taxes on Director's fee, Consultation fees and All Other Income
Director's fees, consultation fees and all other income, are generally taxed at 20%.
From YA 2017 New!
The tax rates for non- resident individuals (except certain reduced final withholding tax rates) will be raised to 22% from YA 2017. 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 2017
|
|---|
(a)
|
Director's remuneration
|
22%
|
(b)
|
Income derived from activity as a non-resident professional (consultant, trainer, coach, etc)
|
15% of gross income or 22% of net income
|
(c)
| Income derived from activity as a non-resident public entertainer (artiste, musician, sportsman, etc) |
10% concessionary rate (No change)
|
(d)
| Other income e.g. property rental income |
22%
|
(e)
| SRS withdrawal by a non-citizen SRS member |
22%
|
| (f) |
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.
|
(according to
IRAS, all the information is copied on 26 Jul 2015)
