Progressive rates from 0% to 24%
Singapore's hidden cost: income tax is just 0-24%, but CPF (Central Provident Fund) adds 20% employee + 17% employer contributions. A S$100,000 earner pays only S$5,650 income tax (~5.7%)—but S$22,440 goes to CPF. No capital gains tax, no inheritance tax, territorial taxation. First S$20,000 is completely tax-free.
Singapore offers one of Asia's most attractive tax regimes: 0-24% progressive rates with first S$20,000 tax-free, no capital gains tax, and territorial taxation (foreign income not taxed unless remitted). But the hidden cost is CPF (Central Provident Fund): employees pay 20% of salary (capped at S$6,800/month ordinary wage) while employers add 17%. A S$100,000 earner pays just S$5,650 income tax (~5.7%), but CPF contributions total S$22,440—making true payroll cost much higher. Singapore has no inheritance tax (abolished 2008) and no dividend tax, making it a wealth hub. Non-residents pay flat 15% or resident rates, whichever is higher. The 183-day rule determines tax residency. Filing deadline is April 15 (April 18 for e-filing). Use our calculator to estimate your Singapore tax liability.
| Taxable Income | Tax Rate |
|---|---|
| S$0 - S$20,000 | 0% |
| S$20,000 - S$30,000 | 2% |
| S$30,000 - S$40,000 | 3.5% |
| S$40,000 - S$80,000 | 7% |
| S$80,000 - S$120,000 | 11.5% |
| S$120,000 - S$160,000 | 15% |
| S$160,000 - S$200,000 | 18% |
| S$200,000 - S$240,000 | 19% |
| S$240,000 - S$280,000 | 19.5% |
| S$280,000 - S$320,000 | 20% |
| S$320,000 - S$500,000 | 22% |
| S$500,000 - S$1,000,000 | 23% |
| Over S$1,000,000 | 24% |
Note: These are marginal rates - you only pay the higher rate on income within each bracket.
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Get Paid as a Contractor →Singapore has 13 progressive brackets from 0% to 24%. First S$20,000 is tax-free, 2% on S$20,000-30,000, 3.5% on S$30,000-40,000, scaling up to 24% above S$1,000,000. Effective rate on S$100,000 is just 5.7% (S$5,650). The 24% top rate only applies to income above S$1 million—most residents pay well under 15%.
CPF (Central Provident Fund) is Singapore's mandatory retirement savings scheme. Employees under 55 contribute 20% of salary; employers add 17%. Contributions are capped on 'ordinary wages' of S$6,800/month (S$81,600/year). CPF funds go to Ordinary Account (housing/investment), Special Account (retirement), and Medisave (healthcare). Withdrawable from age 55, full access at 65.
Singapore uses territorial taxation—foreign-sourced income is tax-free unless remitted into Singapore. If you earn dividends from foreign stocks, foreign rental income, or overseas employment income and keep it outside Singapore, no tax applies. This makes Singapore attractive for international business owners and investors. Note: Foreign income remitted by tax residents may be taxable.
You're a Singapore tax resident if physically present or employed in Singapore for 183+ days in a calendar year. Residents pay progressive rates (0-24%). Non-residents pay flat 15% (or resident rates if higher) on employment income and 24% on director fees. If present for less than 60 days, employment income may be exempt entirely.
Singapore has no capital gains tax—profits from selling stocks, property, crypto, or businesses are tax-free (unless trading is your business). No dividend tax on dividends received from Singapore companies (already taxed at corporate level) or foreign companies. No inheritance tax since 2008. This combination makes Singapore one of Asia's premier wealth management centres.
Last Updated: March 2026