Tax in Singapore

Who is the tax authority?

The Inland Revenue Authority of Singapore (IRAS) administers Singapore's tax system. IRAS was established by the IRAS Act 1992 and operates as a statutory board under the Ministry of Finance.

IRAS administers the Income Tax Act 1947, the Goods and Services Tax Act 1993, the Property Tax Act 1960, and the Stamp Duties Act 1929. Estate duty was repealed for deaths from 15 February 2008, though the Act remains on the books for legacy estates.

The Singapore Chartered Tax Professionals (SCTP) confers the Accredited Tax Practitioner (ATP) and Accredited Tax-Adviser (ATA) credentials. The Institute of Singapore Chartered Accountants (ISCA) regulates Chartered Accountants. Taxpayers file through iras.gov.sg and the myTax Portal.

What is the tax year and when are returns due?

Singapore uses a Year of Assessment (YA) structure. Income earned in calendar year 2024 is assessed in YA 2025 — the YA always follows the Year of Income by one year.

Most salaried filers participate in the Auto-Inclusion Scheme (AIS). Employers transmit employment income directly to IRAS, and Form B/B1 is pre-populated. Companies file Estimated Chargeable Income (ECI) within three months of their fiscal year-end, then Form C-S or Form C by 30 November of the YA.

Who counts as a Singapore tax resident?

Under section 2 of the Income Tax Act 1947, an individual is a Singapore tax resident for a YA if they are physically present or employed in Singapore for 183 days or more in the preceding calendar year. Directors, public entertainers, and professionals are excluded from the short-assignment exemptions.

The Three-Year Administrative Concession allows employees on continuous three-year postings to be treated as resident even if individual-year day counts dip below 183. Short-term assignments of 60 days or fewer in a calendar year are fully exempt from employment income tax.

Residents are taxed on Singapore-source income plus foreign-source income remitted to Singapore. Non-residents pay a flat 15 percent on employment income (or progressive rates, whichever is higher) and 22 percent on other income.

What are the personal income tax rates?

Singapore uses a 13-bracket graduated structure for resident individuals. The table below shows the YA 2025 rates (income earned in calendar year 2024):

Singapore has no capital gains tax for individuals. Gains from the disposal of capital assets are not taxable. Gains from trading or dealing activity can be taxable as revenue gains where badges-of-trade indicators are met.

Dividend income is generally exempt under the one-tier corporate tax system. Companies pay tax on profits, and dividends paid out of taxed profits are tax-free in the shareholder's hands.

How does corporate tax work?

Singapore's corporate income tax rate is 17 percent on chargeable income, unchanged since YA 2010. Two structural concessions significantly reduce the effective rate for most companies.

Singapore implemented the OECD Pillar Two Global Anti-Base Erosion (GloBE) rules via the Multinational Enterprise (Minimum Tax) Act 2024. The Domestic Top-up Tax and Income Inclusion Rule apply for fiscal years beginning 1 January 2025 and onwards for qualifying groups. Branches of foreign companies are taxed at 17 percent on Singapore-source income.

How does GST work?

Goods and Services Tax (GST) is Singapore's principal indirect tax. The current rate is 9 percent from 1 January 2024, raised from 8 percent (which itself replaced the prior 7 percent in 2023).

Mandatory GST registration applies once taxable turnover exceeds SGD 1 million (retrospective or prospective look). Singapore's Overseas Vendor Registration (OVR) regime, effective January 2020 for digital services and expanded January 2023 to cover all remote services and low-value goods, requires non-resident vendors supplying Singapore consumers above the threshold to register and collect GST. The Reverse Charge regime applies to imported services and low-value goods received by partially-exempt GST-registered businesses.

How are cryptoassets taxed?

Singapore's absence of a capital gains tax shapes crypto treatment. Gains on cryptoassets held as long-term investments by individuals are generally not taxable. Gains from frequent trading or dealing are taxable as revenue gains at progressive personal rates under a badges-of-trade analysis.

Mining and staking rewards are taxable as ordinary income at fair-market value on receipt where the activity has a profit-seeking character. Crypto received as employment income is taxable at fair-market value on receipt.

What is the treaty network?

Singapore maintains approximately 95 comprehensive Double Taxation Avoidance Agreements (DTAs) in force, plus Limited DTAs covering air and maritime income. The network is concentrated on ASEAN, EU, and major-economy partners that support Singapore's position as a regional headquarters jurisdiction.

Singapore signed and ratified the OECD Multilateral Instrument (MLI). The Principal Purpose Test applies to many covered DTAs from 2019 onward. Foreign tax-credit relief for Singapore residents is claimed under section 50 of the Income Tax Act 1947, with Unilateral Tax Credit available under section 50A where no DTA applies.

Where does Singapore sit in the ASEAN cohort?

Singapore anchors the ASEAN advanced economy cohort — the Type A archetype in the regional taxonomy. The ASEAN bloc spans five distinct tax archetypes based on PIT structure, territorial principles, and treaty depth.

Common pitfalls for foreigners

Arrivals in Singapore trip on a handful of recurring traps. Knowing them upfront avoids costly corrections.

When should you talk to a Singapore tax pro?

Some situations are straightforward through myTax Portal. Others move quickly into territory where a credentialed Accredited Tax-Adviser (ATA) is the right first call:

• Your income approaches or exceeds the 22–24% top brackets (SGD 320,000+)
• You are a US person living in Singapore and need to reconcile Singapore and US filing obligations without a treaty to fall back on
• You have foreign-source income remitted to Singapore and need to assess the section 13(8) exemption conditions
• Your company is newly incorporated and you want to claim the Start-Up Tax Exemption correctly for the first three YAs
• You are a family office or fund manager assessing section 13O or 13U incentives under the Financial Sector Incentive
• You received an IRAS audit or advance-pricing arrangement query
• You are restructuring a cross-border group post-Pillar Two
• You are unsure whether your crypto activity is investment (not taxable) or trading (taxable)

You can find vetted Singapore practitioners through the directory below.

This page is general information. It is not personal guidance for your specific situation. Tax rules change. Always check current figures on the IRAS website or with a licensed Singapore Accredited Tax-Adviser before filing.