Asia's tax haven — max 22% income tax, NO capital gains tax, NO inheritance tax, 9% GST. Business-friendly.
| Chargeable Income (S$) | Rate |
|---|---|
| S$0 — S$20,000 | 0% |
| S$20,001 — S$30,000 | 2% |
| S$30,001 — S$40,000 | 3.5% |
| S$40,001 — S$80,000 | 7% |
| S$80,001 — S$120,000 | 11.5% |
| S$120,001 — S$160,000 | 15% |
| S$160,001 — S$320,000 | 18% |
| Above S$320,000 | 22% |
Max effective rate ~22%. Compare: US 37%, UK 45%, Germany 45%. Singapore is SIGNIFICANTLY lower!
• NO capital gains tax
• NO inheritance/estate tax
•
NO dividend tax
• NO tax on overseas income (not
remitted)
• This is why the wealthy love Singapore!
• 9% GST (Goods & Services Tax) — increased from 8% in 2024
• Applies to
most goods and services
• Tourist refund scheme (eTRS) for purchases S$100+
•
Businesses with turnover S$1M+ must register
• Central Provident Fund — mandatory savings
• Employee: 20% of
salary
• Employer: 17% of salary
• Goes to: Ordinary (housing), Special (retirement),
Medisave (healthcare)
• Foreigners on EP/WP: NO CPF!