Income Tax in Singapore for 2013

Disclaimer
The Law surrounding Income Tax in Singapore is complex and every effort has been made to offer information that is current, correct and clearly expressed. The information in this summary is intended to be no more than a general overview of the position and certain details have been deliberately omitted. The contents of this page should not be taken as an authoritative statement of income tax in Singapore. Neither the author nor the publisher are responsible for the results of actions taken on the basis of information contained in this summary, nor for any errors or omissions. This text is not intended to render legal, accounting or tax advice. Readers are encouraged to seek professional advice concerning specific matters before making any decision.

The employee is responsible for paying their own tax in Singapore, so if you are planning on working here you will have to become familiar with income tax in Singapore and its system. First, there are two different tax brackets depending on your tax residency in Singapore (not to confuse with VISAs) residents and non-residents. Residents are those who spend more than 182 Days per year in Singapore (including weekends and public holidays) and non- residents 61-182 days (6 months).

The income tax in Singapore is a progressive system, starting at 0% for those earning less than S$22,000 and rising up to a maximum of 20% for those earning S$320,000 per annum. A flat rate of 15% or the resident rates are given to non-residents-whichever results in a higher tax amount on income from employment. For example, one who earns S$50,000 will pay S$1,250 tax, or 2.5% (First 40,000 @ 550 + next 10,000 @ 7%).

Singapore Income Tax Table for Year-end 2013

For further help with assessment you can use the Inland Revenue Authority of Singapore’s Online Tax Calculators.