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Personal taxation in Singapore

Streets of Singapore

Singapore Individual Residency Taxpayer’s residency for tax purposes is to be determined. To be considered a resident of Singapore for tax purposes, an individual must be residing in Singapore and must be present in Singapore for at least 183 days during the preceding year. Regardless of whether an individual is a resident, individuals are taxed […]

Singapore Indirect Taxation

Singapore by Night

Excise & Customs duties In Singapore customs duty is payable only on certain alcoholic beverages (e.g. beer) at a specific rate per litre of alcohol. Excise duty is applicable on liquors, tobacco, motor vehicles, and petroleum products. It is taxed at a specified rates per quantity or ad valorembased on a percentage of the value. […]

Singapore Withholding Taxes

China Town in Singapore

Companies resident of Singapore Payments made to a Singapore resident for tax purposes are not subject to withholding tax in Singapore. To be considered a resident of Singapore for tax purposes a company must have its place of control and management based in Singapore. Companies not resident of Singapore Withholding tax can be perceived on […]

Singapore Corporate Taxation

Singapore Taxation

The tax regime in Singapore is territorial. Income is assessed on a yearly base. The general rule is that Singapore-sourced income & foreign-sourced income perceived in Singapore are subject to income tax. There are some exceptions: foreign-sourced dividends, branch profits and income from services are not taxable in Singapore when received in Singapore (certain conditions […]

Key Facts about Singapore


Tax rates in Singapore Corporate tax: 17% (top rate) VAT/GST :7% (standard rate) Personal income tax: 20% (top rate) Population/GDP Population: 5,2 million ( January 2012) GDP: US$ 233.37 ( March 2011) Currency: Singapore dollar ($) (SGD) For more details: Singapore Taxation Law

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