Singapore Taxation Guide 2011
This overview of Singapore tax matters contains information on the following: Singapore Corporate Tax Productivity and Innovation Scheme Capital Gains Tax Withholding Tax Personal Income Tax
Singapore Personal Tax Rates
Singapore’s Personal Income Tax structure is one of the friendliest and most competitive in the world. The tax year is from 1 January to 31 December in each calendar year and income is assessed on a preceding year basis. Singapore Tax adopts a progressive personal tax rates, relative to an individual’s amount of income. This [...]
What is the individual taxation scheme for non-residents?
Non-residents are taxed at a flat rate of 15%.
How are fringe benefits taxed?
Employer-provided fringe benefits are taxed in the employee’s hands. As a number of benefits are taxed on a concessionary basis in Singapore, it is possible to reduce an individual’s tax liability through appropriate structuring of his/her remuneration package.
What is the annual set date for filing individual / personal income tax in Singapore?
Due date for filing individual taxes is 15 April each year. Late filing or failure to file could incur penalties.
What is the Singapore income tax rate?
The Singapore individual income tax rates for YA 2007 and onwards are shown below. Singapore individual / personal income taxes are charged progressively (0% – 20%), based on your chargeable income. The chargeable income is your income plus any other personal income, minus all deductions, relief’s and rebates. Chargeable Income (S$) Rate (%) Gross Tax [...]
Do I need to pay tax in Singapore as a visiting professional?
My engagement in Singapore as a visiting professional spreads over 5 months. My home country has a tax treaty with Singapore. Do I still need to pay tax in Singapore? Whether you need to pay tax in Singapore would depend on the provisions of the tax treaty. For example, under the tax treaty between Singapore [...]
Is income taxable as a visiting lecturer or speaker?
I am invited by a government body/Ministry in Singapore to conduct seminars/workshops in Singapore. Is my income taxable? You will be taxed on the income derived from Singapore unless it is exempted from tax.
Are there any Tax Incentives for foreign companies to set up in Singapore?
To encourage foreign capital inflow into Singapore, there are tax incentives provided to various industries namely in the form of reduced corporate tax rates. Finance & Treasury Centre Co. 10% Fund Manager 10%/exempt Headquarters Co. 10% International Commodity Trader 10% Offshore Leasing 10% Oil Trader 10% Securities Company 10%/exempt Trustee Company 10% Arts & Antique [...]
What is the Stamp Duty Tax for Property Transfer in Singapore?
Value of property Rate (%) First S$180,000 1.0 Next S$180,000 2.0 Thereafter 3.0
