Tax Rates

The total income of a resident individual is taxed on a sliding scale. To achieve greater progressivity, the top marginal personal income tax rate in Singapore will be increased with effect from YA 2024.

Income tax rates (for YA 2024 for tax residents)
Chargeable Income	Income Tax Rate (%)	Gross Tax Payable ($)
First $20,000 Next $10,000	0 2	0 200
First $30,000 Next $10,000	- 3.50	200 350
First $40,000 Next $40,000	- 7	550 2,800
First $80,000 Next $40,000	- 11.5	3,350 4,600
First $120,000 Next $40,000	- 15	7,950 6,000
First $160,000 Next $40,000	- 18	13,950 7,200
First $200,000 Next $40,000	- 19	21,150 7,600
First $240,000 Next $40,000	- 19.5	28,750 7,800
First $280,000 Next $40,000	- 20	36,550 8,000
First $320,000 Next $180,000	- 22	44,550 39,600
First $500,000 Next $500,000	- 23	84,150 115,000
First $1,000,000 In excess of $1,000,000	- 24	199,150

Click here to download the Doing Business in Singapore 2023 guide

Personal Taxation

In general, individuals are liable to Singapore income tax only on income accruing in or derived from Singapore.

Tax Rates

Personal Taxation

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