Complete guide to Singapore income tax, GST, CPF contributions, best tax software, and top Singapore accountants
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Understanding Singapore's progressive income tax, GST, and CPF system for 2025
Singapore uses a progressive tax system with competitive rates administered by IRAS:
No capital gains tax on most investments and territorial tax system for foreign income
Singapore's mandatory social security savings system for retirement, healthcare, and housing:
CPF contributions are split into Ordinary Account (for housing), Special Account (for retirement), and Medisave Account (for healthcare).
Singapore's consumption tax system:
GST applies to most goods and services. Businesses with annual turnover exceeding S$1 million must register. Financial services and residential property sales are exempt.
Important deadlines for Singapore taxpayers:
Tax returns for Year of Assessment 2025 (income earned in 2024) must be filed by the deadlines above.
Popular tax reliefs for Singapore taxpayers:
Singapore offers various reliefs and rebates to reduce tax burden for qualifying individuals.
Singapore's unique approach to foreign income:
Singapore generally does not tax foreign-sourced income remitted to Singapore, making it attractive for international business and expatriates.
Best tax preparation software for Singapore individuals and businesses
Price: Free
Best for: Individual tax returns and government filing
Official IRAS online tax portal for all Singapore taxpayers. Mandatory for filing income tax returns. Provides pre-filled forms and direct submission to authorities.
Key Features: Pre-filled tax forms, official validation, auto-inclusion of employer data, direct IRAS submission, tax relief calculator.
Price: S$30 - S$70/month
Best for: Small businesses and self-employed
Cloud-based accounting software with Singapore tax compliance features. Popular among SMEs and freelancers for bookkeeping and GST filing.
Key Features: GST tracking, IRAS-compliant reports, bank reconciliation, invoicing, multi-currency support, mobile app.
Price: S$25 - S$80/month
Best for: Local businesses and retail operations
Singapore-developed accounting software with strong local tax compliance. Widely used by Singapore businesses for accounting and GST management.
Key Features: GST-ready, IRAS Form C preparation, inventory management, payroll processing, Singapore compliance.
Price: S$35 - S$90/month
Best for: Growing businesses with inventory
Comprehensive accounting system popular in Singapore and Malaysia. Strong inventory and multi-location support with built-in tax compliance.
Key Features: GST management, Form C support, inventory control, multiple locations, CPF calculations, cloud access.
Price: S$30 - S$75/month
Best for: International businesses and expats
Global accounting platform with Singapore localization. Ideal for businesses with international operations or expat owners familiar with QuickBooks.
Key Features: GST tracking, Singapore tax reports, cloud-based, mobile app, bank feeds, multi-currency, global integration.
Leading tax professionals for Singapore tax compliance and planning
Specialization: Individual tax returns and family planning
Services: Personal tax filing, tax relief optimization, GST registration, CPF advice, tax planning
Established local accounting firms across Singapore serving middle-class individuals and families. Typical fees S$500-S$3,000 depending on complexity, with personalized service and local expertise.
Specialization: Working professionals and SME owners
Services: Personal tax returns, business tax compliance, GST filing, bookkeeping, corporate secretarial
Community-focused accounting practices serving residents and small business owners. Competitive pricing S$600-S$3,500 with ongoing support and tax advisory throughout the year.
Specialization: Digital tax services for busy professionals
Services: Online tax filing, virtual consultations, document upload portal, mobile support, tax planning
Modern digital tax services with qualified Singapore tax agents. Fixed fees from S$400-S$2,500 for individual returns, with convenient online platforms and remote access.
Specialization: Expatriates and foreign workers
Services: Expat tax returns, employment pass holders, foreign income reporting, tax residency advice, English support
Specialized tax advisors for expatriate community with expertise in international taxation. Fees S$800-S$4,500 for expat returns, including tax residency and foreign income guidance.
Specialization: Middle-income families and estate planning
Services: Family tax planning, tax relief maximization, estate planning, property tax advice, investment income
Family-oriented tax practices serving Singapore households. Transparent pricing S$550-S$3,200 based on complexity, with comprehensive family tax planning and year-round advisory.
The accountants and firms listed above are provided for informational purposes only. CountryTaxCalc does not endorse any specific service provider and is not affiliated with these firms.
Professional fees, services, and expertise may vary. We recommend consulting multiple providers and verifying their credentials before making any decisions.
Always ensure your chosen tax professional is appropriately registered with IRAS and relevant Singapore regulatory bodies.
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