Income is taxable when it accrues in or is derived from Singapore, whether or not the individual is resident in Singapore. Income derived from sources outside Singapore is only taxable if it is received in Singapore by a resident individual through a partnership in Singapore.
Resident individuals are entitled to certain personal reliefs and deductions and are subject to graduated tax rates ranging from 0% to 24%. Non-resident individuals are not entitled to any personal reliefs and deductions and are subject to tax at a flat rate of 24%. As a concession, employment income of non-residents is taxed at the higher of a flat rate of 15% or the graduated resident rates with personal reliefs. This concession does not apply to non-resident directors.
Individual income tax rates
Residents
A resident individual's taxable income (after setoff of personal reliefs and deductions) is subject to income tax at progressive rates. Current rates from the year of assessment 2024 (income year 2023) are shown below.
| Taxable income (SGD) | Year of assessment 2024 onwards | ||
| Over (column 1) | Not over | Tax on column 1 (SGD) | Percentage on excess (%) |
| 0 | 20,000 | - | - |
| 20,000 | 30,000 | - | 2.00 |
| 30,000 | 40,000 | 200 | 3.50 |
| 40,000 | 80,000 | 550 | 7.00 |
| 80,000 | 120,000 | 3,350 | 11.50 |
| 120,000 | 160,000 | 7,950 | 15.00 |
| 160,000 | 200,000 | 13,950 | 18.00 |
| 200,000 | 240,000 | 21,150 | 19.00 |
| 240,000 | 280,000 | 28,750 | 19.50 |
| 280,000 | 320,000 | 36,550 | 20.00 |
| 320,000 | 500,000 | 44,550 | 22.00 |
| 500,000 | 1,000,000 | 84,150 | 23.00 |
| 1,000,000 | 199,150 | 24.00 | |
For year of assessment 2024, all resident individuals will be granted a tax rebate of 50% of tax payable, capped at SGD 200.
Non-residents
Non-resident individuals are taxed at a flat rate of 24%, except that employment income is taxed at a flat rate of 15% or at resident rates with personal reliefs, whichever yields a higher tax. A non-resident director’s remuneration does not qualify for the reduced rate, and withholding tax (WHT) at 24% must be deducted from remuneration paid to a non-resident director.
Local income taxes
There are no other taxes on income in Singapore.
