Singapore’s Personal Income Tax structure is one of the friendliest and most competitive in the world. The tax year is from 1 January to 31 December in each calendar year and income is assessed on a preceding year basis.
Singapore’s individual income tax schedule is progressive, with higher income earners paying proportionately more income tax. The current top marginal individual income tax rate is 22%. Singapore also calibrates its individual income tax regime to remain as a choice location for businesses, entrepreneurship, and talent.
Besides enjoying competitive individual income tax rates, Singapore tax residents could also avail themselves of a range of personal tax reliefs and rebates.
Benjamin has over 20 years of tax experience, spending more than 13 years working for the Big 4 accounting firms and being an in-house tax advisor. Benjamin has also worked with SMEs, multinational corporations, and publicly-listed companies from diverse industries, offering tax advisory and planning, corporate restructuring, M&A, business model optimization, tax ruling requests, tax incentives application, tax risk mitigation, and tax reporting services on complex projects.