Overview of Personal Income Tax in Singapore

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An overview of personal income tax in Singapore written by: Joab Wilcoxon
In Singapore, the rates of personal income tax are among the lowest in the whole world. For you to determine your income tax liability in Singapore as a residence, you should first determine your tax residency as well as chargeable income amount before applying the rate of progressive tax to it.

The following are the key points of income tax for people in Singapore include:

· The rate of progressive tax in Singapore f starts at 0 percent and ends at 20% or above S$320,000.

· The country has no inheritance tax or capital gain

· People are only taxed on incomes earned within Singapore. Those income earned by these individuals while working overseas/other countries are not subject to any taxation barring the few exceptions.

· The Tax rules also differ and are based on people’s tax residency

· The Tax filing due date for citizens is on April 15 of every year and income tax is always assessed based on the preceding year basis.

the rates of personal income tax
Individuals living in Singapore are always taxed on the progressive tax rate. This means that filing the returns of personal tax is mandatory whenever your total annual income exceeds S$22,000. This means that you should not pay tax whenever your annual income should be below S$22,000. Nevertheless, you should file tax return whenever informed by the Singapore tax department and they will submit your total tax return.

Different rules of

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