Singapore is famous for its personal income tax. Indeed, it is lower than in other Western countries. Singapore does not tax capital gain in order to foster local and foreign investments. The authority dealing with taxes in Singapore is called the IRAS (Inland Revenue Authority of Singapore)

Note that the IRAS website is very well documented. If you have any question make sure to visit it.

Income tax

The amount of income tax you’ll pay depends on your status. 3 options here:

  • You live and work at least 183 days a year in Singapore, then you’ll be taxed at progressive rates on your income.
  • You spent between 61 and 182 days working in the country. You’ll be either taxed at 15% or progressive rate, whichever gives the highest tax amount.
  • You spent less than 60 in Singapore, your income is exempted from taxes.

Here are the detailed progressive rates:

Note that if you live in Singapore but receive income from a source abroad, you will not be taxed on it.

Taxpayers have to fil in their tax return each year by April 15th. It means that as an expat, you’ll start paying taxes around 18 months after arriving in Singapore.

Property taxes

Annual property taxes depend on the Annual Value (AV) of the property and on the Property tax rate that applies to you. The Annual Value of a property corresponds to its gross annual rent if it was rented. This annual rent is based on the market rentals of similar property. Your property tax rate varies if you live in your property or not.

Here are more details about the “Owner-Occupier Tax” rates and “Non-Owner Occupied Tax” rates.

Good and Services Tax (GST)

Singapore GST is similar to Value Added Tax (VAT) in other countries. GST current rate is 7%. is a news site only and not a currency trading platform. is a site operated by TransferWise Inc. (“We”, “Us”), a Delaware Corporation. We do not guarantee that the website will operate in an uninterrupted or error-free manner or is free of viruses or other harmful components. The content on our site is provided for general information only and is not intended as an exhaustive treatment of its subject. We expressly disclaim any contractual or fiduciary relationship with you on the basis of the content of our site, any you may not rely thereon for any purpose. You should consult with qualified professionals or specialists before taking, or refraining from, any action on the basis of the content on our site. Although we make reasonable efforts to update the information on our site, we make no representations, warranties or guarantees, whether express or implied, that the content on our site is accurate, complete or up to date, and DISCLAIM ANY IMPLIED WARRANTIES OF MERCHANTABILITY OR FITNESS FOR A PARTICULAR PURPOSE. Some of the content posted on this site has been commissioned by Us, but is the work of independent contractors. These contractors are not employees, workers, agents or partners of TransferWise and they do not hold themselves out as one. The information and content posted by these independent contractors have not been verified or approved by Us. The views expressed by these independent contractors on do not represent our views.