Compare taxes and see how much you save moving from Singapore to Hong Kong
Singapore and Hong Kong are Asia's premier low-tax finance hubs, both competing for global talent. Singapore: 0-24% progressive (generous tax-free threshold of S$20K). Hong Kong: 2-17% progressive OR 15% standard rate (whichever is lower). At S$100,000: Singapore ~S$5,650 (5.7%), Hong Kong ~HK$10,800 (10.8%). Singapore saves ~S$5,000. At higher incomes, Hong Kong's 15-17% cap beats Singapore's climb toward 24%. At S$500,000: Singapore ~S$80,000 (16%), HK ~HK$75,000 (15%). Similar. Both have territorial taxation (foreign income untaxed). Both have no capital gains tax. Singapore has CPF (retirement contributions) adding ~20% employer cost. Choose Singapore if: you earn under S$300K, want stability, or prefer planned city. Choose Hong Kong if: you earn very high income, want 15% cap, or prefer China proximity.
Progressive
0-24% progressive (20% kicks in at S$320K, 24% at S$1M)
Progressive
2/6/10/14/17% salaries tax OR 15% standard rate (lower of two)
At S$100,000 income:
That is S$417/month back in your pocket!
| Income | SG Tax | HK Tax | Savings | 10-Year |
|---|---|---|---|---|
| S$50,000 | S$1,200 (2.4%) | HK$3,200 (6.4%) | Singapore saves S$2,000 | S$20,000 |
| S$100,000 | S$5,650 (5.7%) | HK$10,800 (10.8%) | Singapore saves S$5,000 | S$50,000 |
| S$200,000 | S$22,400 (11.2%) | HK$28,000 (14%) | Singapore saves S$5,600 | S$56,000 |
| S$500,000 | S$80,000 (16%) | HK$75,000 (15%) | Hong Kong saves S$5,000 | S$50,000 |
Singapore wins for income under S$300,000. Singapore's tax-free threshold and lower rates save S$2,000-6,000 annually at typical professional salaries (S$100-200K). Above S$400K, Hong Kong's 15% cap starts winning. Most workers find Singapore cheaper.
Hong Kong calculates tax two ways: progressive rates (2-17%) and standard rate (15%). You pay whichever is lower. Above ~HK$400K income, standard rate becomes beneficial. At HK$1M, you pay 15% flat rather than 17% progressive—effectively capping your rate.
Singapore CPF: Employer contributes 17%, employee 20% (capped). This is deferred compensation. Hong Kong MPF: 5% employer + 5% employee (capped at HK$1,500/month each). Singapore's higher contributions mean more retirement but less cash. HK offers more immediate income.
Both extremely expensive. Singapore: S$3,500-5,500/month, S$2,500-4,500 rent. Hong Kong: HK$30,000-50,000/month, HK$15,000-30,000 rent. Hong Kong housing is smaller and more expensive per square foot. Singapore has better overall quality of life for the cost.
Both excellent. Singapore: 17% corporate tax (8.5% on first S$300K), no capital gains, strong IP protection. Hong Kong: 8.25% on first HK$2M profits (16.5% above), no capital gains, simple company formation. Singapore offers more stability; Hong Kong offers China access.