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Singapore Tax Guide

Asia
Last verified June 2026
Sources & verification

Figures on this page were last verified against the cited sources in June 2026. Always check official sources before making a relocation or incorporation decision.

IRAS — Individual Income TaxIRAS — NOR Scheme (ended after YA 2024)OECD Corporate Tax Statistics
TerritorialLow Rate

Best for

  • Zero capital gains

    No CGT on investment, property, or crypto disposals (subject to "investor" classification).

  • Foreign income exempt

    Territorial system — overseas income generally outside the local tax net.

  • No wealth tax

    No annual tax on net worth or assets.

  • No inheritance tax

    Estate and lifetime transfers not subject to inheritance tax.

  • Crypto-friendly

    0% CGT plus favorable foreign-income treatment make this strong for crypto holders.

Personal Tax Score
85/100
Very Tax Friendly
Business Tax Score
88/100
Very Tax Friendly

Personal Income Tax

Tax Residency

Day Threshold
183 days
Note
183 days in a year, or 3 consecutive years, or continuous straddling 2 years

Income Tax Rates

Top Marginal Rate
24%
Structure
Progressive 0-24% from YA 2024

Foreign Income Treatment

System
Territorial
Details
Foreign-sourced income not taxed unless received in Singapore (with exceptions)

Investment Income

Capital Gains
0%
Dividends
0%
Interest
0%

No capital gains tax for individuals

Wealth & Inheritance

Wealth Tax
No - No wealth tax
Inheritance Tax
No - No inheritance tax

Special Regimes

Global Investor Programme (GIP)
Residency through investment for entrepreneurs and family-office principals

Practical Notes

Tax relief cap of S$80,000. NOR scheme ended after YA 2024 — no longer available to new entrants. Various reliefs for CPF, SRS, family support. Foreign-sourced income remitted to Singapore generally exempt under territorial principle with specified conditions.

Business & Corporate Tax

Corporate Income Tax

Headline Rate
17%
Effective Rate Note
17% headline rate; partial exemption on first S$200,000 of chargeable income
Free Zone / Incentives
Various incentives for specific sectors and activities

Withholding Taxes

Dividends
0%
Interest
0-15%%
Royalties
0-10%%

VAT / GST

Rate
9%
Note
9% GST (increased from 8% in 2024)

Compliance & Substance

Substance Requirements
Moderate - economic substance requirements
Compliance Friction
Low - efficient digital tax system

Notable Regimes

  • Pioneer Certificate incentives
  • Development and Expansion Incentive
  • IP regime

OECD Pillar Two (15% global minimum tax)

LiveQDMTT from 1 Jan 2025

Multinational Enterprise (Minimum Tax) Act 2024. QDMTT and IIR live from FY starting 1 Jan 2025. UTPR consultation pending.

See full implementation tracker

Tax Treaty Network

US treatyNo
UK treatyYes
US totalizationNo
Total treaties~95

No US tax treaty — a long-standing gap that has shaped Singapore's competitive positioning vs Hong Kong. UK treaty in force, extensive Asia-Pacific network.

See full treaty matrix

Data Sources

IRAS — Individual Income TaxIRAS — NOR Scheme (ended after YA 2024)OECD Corporate Tax Statistics

Last verified: June 2026. Always check official sources before making a decision.

FAQ

What is the personal income tax rate in Singapore?

Singapore has a top personal income tax rate of 24%. The tax structure is: Progressive 0-24% from YA 2024. See the detailed breakdown above and verify with official sources.

Do I need to pay tax on foreign income in Singapore?

Singapore uses a territorial system for foreign income. Foreign-sourced income not taxed unless received in Singapore (with exceptions)

What are the residency requirements for Singapore?

Tax residency in Singapore generally requires 183 days of physical presence. 183 days in a year, or 3 consecutive years, or continuous straddling 2 years. Always verify current rules with official sources.

Is there a wealth tax in Singapore?

No, Singapore does not have a wealth tax. No wealth tax

What is the corporate tax rate in Singapore?

The corporate tax rate in Singapore is 17%. 17% headline rate; partial exemption on first S$200,000 of chargeable income

US citizen moving to Singapore? Read this first.

Singapore uses a territorial system for foreign income. For US citizens this often combines well with FEIE.

  • •Foreign-source income may be exempt or only taxed on remittance in Singapore, but the US still taxes US citizens worldwide. FEIE (~$130k earned income) plus FTC on any Singapore tax paid is the standard combination.
  • •Self-employment tax (15.3%) is owed in full — Singapore has no totalization agreement with the US.
  • •Carefully document whether income is "Singapore-source" or foreign-source. The classification drives both Singapore and US tax outcomes; getting it wrong is the #1 audit risk in this category.
  • •Residency requires 183 days. Special regimes may further reduce Singapore tax — check the country page for current options.
Read the full US-citizen moving-abroad guide

Need someone to actually plan Singapore for you?

TaxAtlas covers the rates and rules. For the personal side — exit planning, residency strategy, business structure, or filings — request a response and we'll point you to relevant research or a specialist who handles Singapore cases.

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