Singapore

Singapore Personal Tax Rate YA2017

[Singapore] Announced in Budget 2015, taxable income received by Singapore tax residents from calendar year 2016 will be subjected to the new personal income tax rate structure for individual taxpayers which take effect from Year of Assessment (YA) 2017.

These changes will only affect individual deriving more than $160,000 chargeable income whereby; the next $40,000 after the first $160,000 derived will be taxed at 18% (previously 17%) and income in excess of $320,000 will be taxed at 22% (previously 20%).
The personal income tax rate structures for Singapore tax resident individuals for YA 2017 and prior are summarised in the Tables below;

 

Tax rate structure prior to YA 2017
Chargeable Income Tax Rate (%) Tax Payable ($)
First $20,000 0 0
Next $10,000 2 200
First $30,000 - 200
Next $10,000 3.5 350
First $40,000 - 550
Next $40,000 7 2,800
First $80,000 - 3,350
Next $40,000 11.5 4,600
First $120,000 - 7,950
Next $ 40,000 15 6,000
First $160,000 - 13,950
Next $ 40,000 17 6,800
First $200,000 - 20,750
Next $120,000 18 21,600
First $320,000 - 42,350
In excess of $320,000 20  
Tax rate structure prior with effect from YA 2017
Chargeable Income Tax Rate (%) Tax Payable ($)
First $20,000 0 0
Next $10,000 2 200
First $30,000 - 200
Next $10,000 3.5 350
First $40,000 - 550
Next $40,000 7 2,800
First $80,000 - 3,350
Next $40,000 11.5 4,600
First $120,000 - 7,950
Next $ 40,000 15 6,000
First $160,000 - 13,950
Next $40,000 18 7,200
First $200,000 - 21,150
Next $40,000 19 7,600
First $240,000 - 28,750
Next $40,000 19.5 7,800
First $280,000 - 36,550
Next $40,000 20 8,000
First $320,000 - 44,550
In excess of $320,000 22