TAX INFO
TAX INFO
Saturday, 29 September 2012 07:49 administrator
We have drawn the following information relating to individual taxation that you may find useful.
Singapore Tax Residents
Different tax rates apply for tax residents and non-residents. You will be treated as a tax resident for a particular Year of Assessment (YA) if you are a:
Singaporean; or
Singapore Permanent Resident if you have established your permanent home in Singapore; or
Foreigner who for 183 days or more in previous year (excludes director of a company).
Otherwise, you will be treated as a non-resident of Singapore for tax purposes.
Tax rates for Singapore tax resident individuals (From YA 2015* and YA 2016)
Chargeable Income |
Rate |
Gross Tax Payable |
First $ 20,000 |
0% |
$ 0 |
First $ 30,000 |
– |
$ 200 |
First $ 40,000 |
– |
$ 550 |
First $ 80,000 |
– |
$ 3,350 |
First $ 120,000 |
– |
$ 7,950 |
First $ 160,000 |
– |
$ 13,950 |
First $ 200,000 |
– |
$ 20,750 |
First $ 320,000 |
– |
$ 42,350 |
* YA 2015 tax rebate of 50%, capped at S$1,000.
Non-resident Individuals
Your is taxed at 15% or resident rate, whichever gives rise to a higher tax amount. The director’s fees, consultation fees and all other that you received will be taxed at 20%. Payments such director’s fees may be subject to Singapore withholding tax.