Is Singapore a high-tax or low-tax country?

Singapore is generally considered a low-tax country, especially for individual income. While the existing short answer states a 25.7% effective rate at $75K, that figure is actually a bit high. For an individual earning S$75,000 (roughly US$55,000), the effective tax rate is closer to 4.75% due to progressive rates and generous reliefs. For example, on S$75,000, your tax payable would be S$3,560. This is significantly lower than the OECD average, where effective rates for similar incomes often sit above 15-20%. Corporate tax is also attractive, with a flat rate of 17% and exemptions for new companies. Property taxes are low, and there's no capital gains tax or inheritance tax. The main consumption tax, GST, is 9%. Overall, Singapore prioritizes economic growth through low taxes, making it an appealing destination for high earners and businesses. If you’re relocating, Singapore offers a very favorable tax environment compared to most developed nations, allowing you to keep a larger portion of your income.