Singapore's tax system is one of the most favorable in the world for high earners. No capital gains tax. No inheritance tax. A progressive income tax that caps at 22% (rising to 24% from 2024 for income above S$1M). No tax on foreign-sourced income not remitted to Singapore. For expats earning S$200,000+, Singapore can save tens of thousands of dollars per year compared to the US, UK, or Australia.
But “low tax” doesn't mean “no complexity.” CPF contributions, tax residency rules, employment pass conditions, and departure tax obligations all matter — especially if you're moving TO Singapore, moving FROM Singapore, or splitting time between Singapore and another country.
0–24%
Income tax rate
0%
Capital gains tax
0%
Inheritance tax
183 days
Tax residency threshold
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🇸🇬 Singapore Income Tax Brackets (Residents, YA 2026)
Progressive rates — no tax on first S$20,000
0% — tax-free threshold
First S$20,000 of chargeable income is not taxed. With personal relief of S$1,000, the effective threshold is S$21,000.
2% on next S$10,000
Maximum tax in this band: S$200.
3.5% on next S$10,000
Maximum tax in this band: S$350.
7% on next S$40,000
Maximum tax in this band: S$2,800. Most mid-level expats are here.
11.5% on next S$40,000
Maximum tax in this band: S$4,600.
15% on next S$40,000
Maximum tax in this band: S$6,000.
18% on next S$40,000
Maximum tax in this band: S$7,200.
19% on next S$120,000
Maximum tax in this band: S$22,800.
20% on next S$180,000
Maximum tax in this band: S$36,000.
22% on next S$500,000
Maximum tax in this band: S$110,000.
24% on excess (from YA 2024)
New top rate introduced for ultra-high earners.
Effective tax rate comparison on S$200,000 income:
Fee Comparison by Region (2025-2026)
| Region | Day School | Boarding | Best Value |
|---|---|---|---|
| 🇸🇬Singapore | ~S$19,350 | ~9.7% effective | No CGT, no inheritance tax |
| 🇺🇸United States | ~S$44,000 (fed+state) | ~22% effective | Plus FICA, state tax |
| 🇬🇧United Kingdom | ~S$52,000 | ~26% effective | Plus NI contributions |
| 🇦🇺Australia | ~S$55,000 | ~27.5% effective | Plus Medicare levy |
| 🇭🇰Hong Kong | ~S$28,000 | ~14% effective | Closest competitor |
Moving TO Singapore: What Expats Need to Know
Tax Residency: The 183-Day Rule
You are a Singapore tax resident if you are physically present or employed in Singapore for 183 days or more in a calendar year. Residents pay the progressive rates above. Non-residents pay a flat 15% on employment income (or resident rates, whichever is higher) and 24% on director fees.
First-year trap: If you arrive mid-year and are present for fewer than 183 days, you may be taxed as a non-resident at the flat 15% rate for that year. This can actually be HIGHER than resident rates for lower incomes. Plan your arrival date accordingly.
CPF: Not Your Problem (Usually)
Central Provident Fund (CPF) is Singapore's mandatory savings scheme. Foreigners on Employment Passes are EXEMPT from CPF contributions. Only Singapore citizens and Permanent Residents must contribute. This is a significant advantage — your take-home is higher because there are no mandatory social security deductions.
What Singapore Does NOT Tax
- Capital gains: Zero. No tax on profits from selling shares, property, crypto, or any asset (with narrow exceptions for property traders).
- Inheritance / estate tax: Zero. Abolished in 2008.
- Foreign-sourced income: Not taxed if not remitted to Singapore (with exceptions for certain partnerships). Dividends from foreign companies, interest from foreign banks, and rental income from overseas properties are generally not taxable.
- Dividend income: Singapore has a one-tier corporate tax system — dividends from Singapore companies are tax-free to shareholders (already taxed at corporate level).
Moving FROM Singapore: Departure Tax & What Changes
Thinking about leaving Singapore? Here's what happens to your tax position:
Tax Clearance (IR21)
When you leave Singapore, your employer must file an IR21 tax clearance with IRAS at least one month before your last day. Your employer must withhold all monies (salary, bonuses, leave pay) until tax clearance is obtained. This typically takes 1-2 months. You cannot leave Singapore permanently until cleared.
No Exit Tax on Investments
Unlike Australia (CGT Event I1), Canada (departure tax), or France (exit tax above €800K), Singapore has no deemed disposition or exit tax on investments. Your shares, crypto, and property are not taxed when you leave. This makes Singapore one of the cleanest countries to leave from a tax perspective.
Where Singapore Expats Move Next
Based on our data, the most common destinations for people leaving Singapore:
- Australia / New Zealand: Lifestyle upgrade, but significantly higher tax. Be aware of AU CGT exit event when leaving AU later.
- UK: Career opportunities, no exit tax on departure. But income tax + NI can reach 47%.
- Portugal: IFICI 20% flat rate for 10 years. Growing expat community. Affordable compared to SG.
- Dubai / UAE: Zero income tax. Similar infrastructure quality. Regional hub.
- Thailand / Vietnam: 60-70% cheaper. Territorial taxation (Thailand) or low flat rates.
- Back home: Many Singapore expats are on 2-3 year rotations and return to their country of origin.
Compare tax brackets side by side
Compare your tax rate across countriesUS Citizens in Singapore: The Double Tax Trap
If you're a US citizen living in Singapore, you face worldwide taxation by the USin addition to Singapore tax. The good news: Singapore's tax rates are generally lower than US rates, so the Foreign Tax Credit (FTC) usually eliminates most US liability. The FEIE ($132,900 for 2026) can also zero out your US federal tax on earned income.
The trap:CPF-exempt foreigners don't build Social Security credits in Singapore. If you're not contributing to US Social Security either, you may have a gap in your retirement benefits. There is no US-Singapore Totalization Agreement.
FBAR/FATCA: Singapore bank accounts above $10,000 aggregate trigger FBAR filing (FinCEN 114). DBS, OCBC, and UOB all cooperate with FATCA reporting.
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Fee Comparison by Region (2025-2026)
| Region | Day School | Boarding | Best Value |
|---|---|---|---|
| 📅Annual tax return (Form B/B1) | By April 15 (paper) / April 18 (e-file) | Mandatory for all | myTax Portal: tax.gov.sg |
| 📅Employer filing (Form IR8A) | By March 1 | Employer files for you | Auto-included in B1 |
| 📅Tax clearance (IR21) | 1 month before departure | Employer must file | Cannot leave without it |
| 📅US FBAR (if US citizen) | April 15 (ext. to Oct 15) | If accounts > $10K | FinCEN BSA e-filing |
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Get your personalized tax strategy — $79Frequently Asked Questions
Do expats pay CPF in Singapore?▾
No. Foreigners on Employment Passes are exempt from CPF contributions. Only Singapore citizens and Permanent Residents must contribute (employee 20% + employer 17% of ordinary wages). This is a significant take-home advantage for foreign workers.
Is Singapore really tax-free for capital gains?▾
Yes, in almost all cases. Singapore does not impose capital gains tax on the sale of shares, property (for personal use), cryptocurrency, or other investments. The only narrow exception is if you are classified as a 'trader' in securities or property, where gains may be treated as income.
What happens to my Singapore taxes when I leave?▾
Your employer files an IR21 tax clearance 1 month before your last day. All monies are withheld until IRAS clears you (1-2 months). There is no exit tax on investments — unlike Australia, Canada, or France. Singapore is one of the cleanest countries to leave from a tax perspective.
Do US citizens in Singapore pay double tax?▾
Effectively no. The Foreign Tax Credit (FTC) on your US return eliminates most double taxation since Singapore rates are lower. The FEIE ($132,900 for 2026) can also zero out federal tax on earned income. But you MUST still file US returns, FBAR, and FATCA — non-filing carries severe penalties.
How does Singapore tax compare to Hong Kong?▾
Very similar. Hong Kong has a flat 15% salaries tax, Singapore is progressive up to 24%. For income of S$200K, Singapore's effective rate (~9.7%) is actually LOWER than Hong Kong's (~14%). Both have no CGT, no inheritance tax, and limited taxation of foreign income.
Planning a move to Singapore? Get your personalized tax analysis.
Generic tax rates don't tell you what you'd actually owe
Your effective rate depends on your income, filing status, FEIE eligibility, and destination regime. This report models your exact scenarios and gives your CPA a handoff brief.