{"id":4152,"date":"2024-02-05T07:05:57","date_gmt":"2024-02-05T07:05:57","guid":{"rendered":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/?post_type=resources&p=4152"},"modified":"2026-05-24T02:16:15","modified_gmt":"2026-05-23T18:16:15","slug":"singapore-tax-rates","status":"publish","type":"resources","link":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/resources\/singapore-tax-rates\/","title":{"rendered":"Singapore Tax Rates"},"content":{"rendered":"
In this section, you will learn about the tax rates for the major taxes applicable in Singapore.<\/div>\n

 <\/p>\n

A. Singapore Corporate Tax<\/h5>\n
\n

The headline corporate tax rate in Singapore is 17%<\/b>. This rate is considered one of the lowest in economically advanced countries in the world. Headline rate refers to the highest tax rate in a particular jurisdiction. For most startups and SMEs, the effective tax you pay is often much lower than the headline rate of 17% after accounting for rebates, exemptions, deductions and allowances.<\/p>\n

Find out more about the Corporate Tax System in our article \u201cUnderstanding the Corporate Tax System in Singapore<\/b>\u201d.<\/p>\n<\/div>\n

 <\/p>\n

B. Singapore Personal Income Tax<\/h5>\n
\n
Personal Income Tax Rates for Residents<\/h6>\n

The personal income tax system for Tax Residents in Singapore is based on a progressive tax system. This means that a different tax rate is charged progressively as income increases. Simply put, your annual personal income will be divided into different income bands with a progressive tax rate attached to the next band. The highest personal income tax rate is currently fixed at 24% effective YA2024 onwards (which is 7% higher than the current headline corporate tax rate).<\/p>\n

The progressive rates are as follow from YA2024 onwards (Personal income for calendar year 2024 onwards):<\/p>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
Chargeable Income<\/th>\nIncome Tax Rate (%)<\/th>\nGross Tax Payable ($)<\/th>\n<\/tr>\n
First $20,000
\nNext $10,000<\/td>\n		0
\n2<\/td>\n		0
\n200<\/td>\n<\/tr>\n
First $30,000
\nNext $10,000<\/td>\n		\u2013
\n3.50<\/td>\n		200
\n350<\/td>\n<\/tr>\n
First $40,000
\nNext $40,000<\/td>\n		\u2013
\n7<\/td>\n		550
\n2,800<\/td>\n<\/tr>\n
First $80,000
\nNext $40,000<\/td>\n		\u2013
\n11.5<\/td>\n		3,350
\n4,600<\/td>\n<\/tr>\n
First $120,000
\nNext $40,000<\/td>\n		\u2013
\n15<\/td>\n		7,950
\n6,000<\/td>\n<\/tr>\n
First $160,000
\nNext $40,000<\/td>\n		\u2013
\n18<\/td>\n		13,950
\n7,200<\/td>\n<\/tr>\n
First $200,000
\nNext $40,000<\/td>\n		\u2013
\n19<\/td>\n		21,150
\n7,600<\/td>\n<\/tr>\n
First $240,000
\nNext $40,000<\/td>\n		\u2013
\n19.5<\/td>\n		28,750
\n7,800<\/td>\n<\/tr>\n
First $280,000
\nNext $40,000<\/td>\n		\u2013
\n20<\/td>\n		36,550
\n8,000<\/td>\n<\/tr>\n
First $320,000
\nNext $180,000<\/td>\n		\u2013
\n22<\/td>\n		44,550
\n39,600<\/td>\n<\/tr>\n
First $500,000
\nNext $500,000<\/td>\n		\u2013
\n23<\/td>\n		84,150
\n115,000<\/td>\n<\/tr>\n
First $1,000,000
\nIn excess of $1,000,000<\/td>\n		\u2013
\n24<\/td>\n		199,150<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Personal Income Tax rates for non-resident individuals<\/h6>\n

Employment income<\/u>
\nYour employment income is taxed at 15% or resident rate, whichever gives rise to a higher tax amount.<\/p>\n

Director\u2019s fees, consultation fees & all other income<\/u>
\nThe director\u2019s fees, consultation fees and all other income that you received are taxed at 24% effective YA2024 onwards.<\/p>\n<\/div>\n

 <\/p>\n

C. Other Forms of Taxes<\/h5>\n
\n
Property Tax Rates<\/h6>\n

 <\/p>\n

PROGRESSIVE TAX RATES FOR NON-OWNER-OCCUPIED RESIDENTIAL PROPERTIES<\/h6>\n\n\n\n\n\n\n
Annual Value ($)<\/th>\nEffective 1 Jan 2025<\/th>\nProperty Tax Payable<\/th>\n<\/tr>\n
First $30,000
\nNext $15,000<\/td>\n		12%
\n20%<\/td>\n		$3,600
\n$3,000<\/td>\n<\/tr>\n
First $45,000
\nNext $15,000<\/td>\n		\u2013
\n28%<\/td>\n		$6,600
\n$4,200<\/td>\n<\/tr>\n
First $60,000
\nAbove $60,000<\/td>\n		\u2013
\n36%<\/td>\n		$10,800<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

PROGRESSIVE TAX RATES FOR OWNER-OCCUPIED HOMES<\/h6>\n

 <\/p>\n\n\n\n\n\n\n\n\n\n\n
Annual Value ($)<\/th>\nEffective 1 Jan 2024<\/th>\nProperty Tax Payable<\/th>\n<\/tr>\n
First $12,000
\nNext $28,000<\/td>\n		0%
\n4%<\/td>\n		$0
\n$1120<\/td>\n<\/tr>\n
First $40,000
\nNext $10,000<\/td>\n		\u2013
\n6%<\/td>\n		$1120
\n$600<\/td>\n<\/tr>\n
First $50,000
\nNext $25,000<\/td>\n		\u2013
\n10%<\/td>\n		$1,720
\n$2,500<\/td>\n<\/tr>\n
First $75,000
\nNext $10,000<\/td>\n		\u2013
\n14%<\/td>\n		$4,220
\n$1,400<\/td>\n<\/tr>\n
First $85,000
\nNext $15,000<\/td>\n		\u2013
\n20%<\/td>\n		$5,620
\n$3,000<\/td>\n<\/tr>\n
First $100,000
\nNext $40,000<\/td>\n		\u2013
\n26%<\/td>\n		$8,620
\n$10,400<\/td>\n<\/tr>\n
First $140,000
\nAbove $140,000<\/td>\n		\u2013
\n32%<\/td>\n		$19,020<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/p>\n

Goods and Services Tax<\/h6>\n\n\n\n\n\n\n
TYPE OF SUPPLY<\/td>\nRATE<\/td>\n<\/tr>\n
STANDARD RATED SUPPLIES<\/td>\n9% from 2024 onwards<\/td>\n<\/tr>\n
ZERO RATED SUPPLIES<\/td>\n0%<\/td>\n<\/tr>\n
EXEMPT SUPPLIES<\/td>\n0%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

In this section, you will learn about the tax rates for the major taxes applicable in Singapore.   A. Singapore Corporate Tax The headline corporate tax rate in Singapore is 17%. This rate is considered one of the lowest in economically advanced countries in the world. Headline rate refers to the highest tax rate in […]<\/p>\n","protected":false},"featured_media":0,"parent":0,"menu_order":21,"template":"","category-resources":[149],"class_list":["post-4152","resources","type-resources","status-publish","hentry","category-resources-accounting-tax-guide"],"acf":[],"_links":{"self":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/wp-json\/wp\/v2\/resources\/4152","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/wp-json\/wp\/v2\/resources"}],"about":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/wp-json\/wp\/v2\/types\/resources"}],"wp:attachment":[{"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/wp-json\/wp\/v2\/media?parent=4152"}],"wp:term":[{"taxonomy":"category-resources","embeddable":true,"href":"https:\/\/glutenfreepleasure.com\/__proxy_domain\/contactone.com.sg\/wp-json\/wp\/v2\/category-resources?post=4152"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}