Snapshot of Singapore Personal Income Tax Rates 2012/2013
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 20%. There is no tax on income derived and received outside of Singapore, and no capital gains or charge-related taxes to worry about.
| Year of Assessment 2012 / 2013 | |||
|---|---|---|---|
| Chargeable Income | Rate (%) | Gross Tax Payable ($) | |
| On the first On the next |
20,000 10,000 |
0 2 |
0 200 |
| On the first On the next |
30,000 10,000 |
- 3.5 |
200 350 |
| On the first On the next |
40,000 40,000 |
- 7 |
550 2,800 |
| On the first On the next On the next |
80,000 40,000 40,000 |
- 11.5 15 |
3,350 4,600 6,000 |
| On the first On the next On the next |
160,000 40,000 120,000 |
- 17 18 |
13,950 6,800 21,600 |
| On the first In excess of |
320,000 320,000 |
- 20 |
42,350 |