Income Tax in 🇸🇬 Singapore
Tax brackets, effective rates, and net income calculations. Data from official government sources.
Singapore's Taxation Score of 70/100 is largely driven by its competitive tax regime, evidenced by tax revenue at just 13% of GDP and a corporate tax rate of 17%. For individuals, the progressive income tax system starts at 0% for incomes up to S$20,000 and reaches 22% for incomes exceeding S$320,000, making it particularly attractive for higher earners compared to many Western nations.
Tax Overview
Top Rate
24.0%
VAT
9%
Capital Gains
0%
Fiscal Year
2025
Income Tax Brackets
0.0%
S$0 – S$20,000
2.0%
S$20,000 – S$30,000
3.5%
S$30,000 – S$40,000
7.0%
S$40,000 – S$80,000
11.5%
S$80,000 – S$120,000
15.0%
S$120,000 – S$160,000
18.0%
S$160,000 – S$200,000
19.0%
S$200,000 – S$240,000
19.5%
S$240,000 – S$280,000
20.0%
S$280,000 – S$320,000
22.0%
S$320,000 – S$500,000
23.0%
S$500,000 – S$1,000,000
24.0%
S$1,000,000+
Tax at Different Salary Levels
$50,000 USD equivalent
Gross: S$66,667
Net: S$50,917
Effective: 23.6%
$75,000 USD equivalent
Gross: S$100,000
Net: S$74,350
Effective: 25.7%
$150,000 USD equivalent
Gross: S$200,000
Net: S$158,450
Effective: 20.8%
Social Contributions (Employee)
CPF (Employee, age <55)20.0%