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Personal Taxation in Singapore


A person is tax resident in Singapore if he or she spends at least 183 days in a year or straddling two years in Singapore, or if the average number of days spent
in Singapore over a three-year period equates to at least 183 days per year. Note that the 183-day rule generally does not apply to a director of a company. A foreign person who has become a Singapore Permanent Resident and has established his or her home in Singapore is resident for tax purposes.

All individuals pay tax on income earned or received in Singapore; overseas income
received in Singapore after January 1, 2004, including income paid into a Singapore bank account (but excluding overseas income received through a partnership in Singapore), is not taxable.

Income tax is assessed based on a preceding year basis.

Tax Rates

Chargeable income Rate (%) Gross tax payable (S$)
First S$20,000
Next S$10,000
First S$30,000
Next S$10,000

First S$40,000
Next S$40,000

First S$80,000
Next S$80,000
-14 4,300
First S$160,000
Next S$160,000
-17 15,500
First S$320,000
Next S$320,000
-20 42,700

There is a one-off personal income tax rebate of 20% for resident individuals, subject to a cap of SGD2,000, for tax payable for year of assessment 2009.

The income tax rate for non-residents’ employment income is either 15% or the relevant resident tax rate, whichever produces the highest sum. Director's fees, consultation fees and most other income are taxed at 20%, which is generally withheld at source.

Certain other payments to non-resident individuals are subject to withholding tax at source.

The majority of dividend payments received are exempt from income tax.

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