Singapore personal income tax rates for 2012

Singapore enjoys one of the world’s lowest personal income tax rates. From the Year of Assessment (YA) 2012, marginal personal income tax rates for income levels below S$120,000 have been cut, while income tax rates for income levels above S$120,000 have been increased marginally. Taxes differ for residents and non-residents in Singapore. A resident tax payer is a resident who is a:

• Singaporean; or
• Singapore Permanent Resident and have established your permanent home in Singapore; or
• foreigner who has stayed or worked in Singapore for 183 days or more in the tax year

Tax rates for resident individuals

Personal tax is calculated progressively, starting at 0% and ending at 20% above S$320,000. A different margin rate of tax applies depending on the individual’s income.

Click here to see personal income tax rate comparison.

Personal income for Singapore non-residents

A non-resident tax payer is a foreigner who stayed or worked in Singapore for less than 183 days in the tax year. Employment income is exempt from tax if you are here practicing as a on short-term employment for 60 days or less in a year. This exemption does not apply if you are a director of a company, a public entertainer or exercising a profession in Singapore. In Singapore for 61-182 days in a year, you will be taxed on all income earned in Singapore. You may claim expenses and donations. However claiming personal reliefs is not permissible. Employment income is taxed at 15% or the progressive resident rate (see rate table above), whichever gives rise to a higher tax amount. Director fees, consultant fees and all other incomes are taxed at 20%.

Disclaimer

The information given is of a general nature and may not be applicable in a specific situation. Under the Terms of Use of this website, we disclaim liability for any act done or omission made on the information provided and any consequences for any such act or omission. For specific legal advice, you should seek professional legal assistance.

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