What is the Singapore income tax rate?
| The Singapore individual income tax rates for YA 2007 and onwards are shown below. Singapore individual / personal income taxes are charged progressively (0% – 20%), based on your chargeable income. The chargeable income is your income plus any other personal income, minus all deductions, relief’s and rebates. | |||
| Chargeable Income ($) | Rate (%) | Gross Tax Payable ($) | |
|---|---|---|---|
| On the first On the next |
20,000 10,000 |
0 3.5 |
0 350 |
| On the first On the next |
30,000 10,000 |
5.5 | 350 550 |
| On the first On the next |
40,000 40,000 |
8.5 | 900 3,400 |
| On the first On the next |
80,000 80,000 |
14 | 4,300 11,200 |
| On the first On the next |
160,000 160,000 |
17 | 15,500 27,200 |
| On the first Above |
320,000 320,000 |
20 | 42,700 |
What is the annual set date for filing individual / personal income tax in Singapore?
- Due date for filing individual taxes in 15 April each year. Late filing or failing to file at all could incur penalties.
How are fringe benefits taxed?
- Employer-provided fringe benefits are taxed in the employee’s hands. As a number of benefits are taxed on a concessionary basis in Singapore, it is possible to reduce an individual’s tax liability through appropriate structuring of his/her remuneration package.
Are foreigner employees required to contribute to the CPF fund?
- Foreigners on Singapore work passes such as Employment Pas, S Pass, etc. are exempt from CPF contributions in Singapore.
What is the individual taxation scheme for non-residents?
- Non-residents are taxed at a flat rate of 15%.
