Singapore Income Tax Guide 2026

Overview of the Singapore Income Tax System

The Singapore income tax system is renowned globally for its fairness, administrative simplicity, low headline tax rates, and attractive investment incentives. Administered by the Inland Revenue Authority of Singapore (IRAS), Singapore operates on a strict territorial tax principle. Under this framework, individuals and corporate entities are generally taxed only on income generated within Singapore or remitted into Singapore under specific statutory conditions.

Key highlights of taxation in Singapore include:

• Progressive Personal Rates: Resident personal income tax rates range from 0% for the first S$20,000 up to 24% for income above S$1,000,000 for Year of Assessment (YA) 2026.
• Flat Corporate Tax Rate: A headline corporate income tax rate of 17%, supported by generous partial tax exemptions for qualifying new startups and SMEs.
• Zero Capital Gains Tax: No tax on capital gains derived from stock investments, property sales, or cryptocurrency appreciation.
• Single-Tier Corporate Dividend System: Corporate income is taxed at the company level. Subsequent dividend distributions to shareholders are completely exempt from taxation.
• No Inheritance or Net Wealth Tax: Estate duty was abolished in 2008, ensuring wealth preservation across generations.

Singapore Personal Income Tax Brackets 2026

Personal income tax in Singapore is levied on a progressive schedule. Taxable income (known as Chargeable Income) is calculated by deducting allowable business/employment expenses and eligible personal tax reliefs from gross income.

To accurately calculate your take-home income and personal tax bill, try our interactive Singapore Income Tax Calculator.

183-Day Tax Residency & Taxation for Foreigners

Understanding your tax residency status is crucial when living or working in Singapore. Under IRAS regulations, you are deemed a tax resident if you are:

1. A Singapore Citizen or Permanent Resident (PR) who normally resides in Singapore; or
2. A foreigner who has physically stayed or worked in Singapore for 183 days or more within a calendar year.

Tax residents enjoy progressive tax rates (0% to 24%) and are eligible to claim personal tax reliefs. In contrast, non-residents are taxed differently:

• Employment Income: Taxed at a flat rate of 15% or the resident progressive rate, whichever results in a higher tax liability.
• Director Fees & Consultancy Income: Taxed at a flat non-resident rate of 24%.
• No Relief Eligibility: Non-residents cannot claim personal reliefs, Central Provident Fund (CPF) deductions, or SRS tax deductions.

For an in-depth breakdown of work passes, Form IR21 tax clearance, and short-term 60-day exemptions, read our Singapore Tax Guide for Foreigners & Expats and explore our Singapore Tax Residency Guide.

17% Corporate Tax Rate & Startup Exemptions

Singapore maintains a flat corporate income tax rate of 17%. Under the Startup Tax Exemption (SOTE) scheme, newly incorporated qualifying Singapore companies enjoy significant tax savings during their first three consecutive Years of Assessment (YA):

• 75% exemption on the first S$100,000 of normal chargeable income; and
• 50% exemption on the next S$100,000 of normal chargeable income.

For all other active companies, the standard Partial Tax Exemption (PTE) provides a 75% exemption on the first S$10,000 and a 50% exemption on the next S$190,000 of chargeable income. Read our detailed Singapore Corporate Tax Guide 2026 to learn more about Estimated Chargeable Income (ECI) filing and corporate tax rebates.

Capital Gains, Foreign Income & Dividend Rules

One of Singapore's key competitive advantages is the absence of capital gains taxation. Gains realized from selling shares, property, unit trusts, or foreign currencies are non-taxable, provided the taxpayer is not deemed to be trading in assets as a business.

Furthermore, under Singapore's single-tier corporate tax framework, dividends paid by Singapore-resident companies are tax-exempt in the hands of shareholders. Foreign-sourced income remitted into Singapore by resident individuals is also exempt under Section 13(6) of the Income Tax Act. For full regulatory details, check our guide on Singapore Foreign Income, Dividends & Capital Gains Tax.

Personal Tax Reliefs & The S$80,000 Cap

Singapore taxpayers can lower their effective tax burden by taking advantage of statutory personal income tax reliefs. However, IRAS enforces an overall aggregate personal tax relief cap of S$80,000 per Year of Assessment.

Major tax reliefs include:

• Earned Income Relief: Automatic relief up to S$1,000 (under 55 yrs), S$6,000 (55–59 yrs), and S$8,000 (60+ yrs).
• CPF Cash Top-Up Relief: Up to S$8,000 for top-ups to your own Special/Retirement Account and up to S$8,000 for family members.
• Supplementary Retirement Scheme (SRS): Contributions up to S$15,300 for Citizens/PRs and S$35,700 for foreigners are 100% tax-deductible.
• Parent & Spouse Relief: Up to S$9,000 per dependent parent residing with you.
• Course Fees Relief: Deduct up to S$5,600 annually for self-education and professional certifications.

Learn how to maximize your tax savings legally with our comprehensive Singapore Tax Reliefs & Deductions Guide.

IRAS e-Filing & myTax Portal Deadlines

The Singapore tax year runs on a calendar year basis (January 1 to December 31). Key tax deadlines to remember:

• March 1: IRAS myTax Portal opens for e-filing.
• April 15: Paper tax return filing deadline.
• April 18: Online e-filing deadline via myTax Portal (Singpass login required).
• May to September: IRAS issues Notice of Assessment (NOA) bills. Taxpayers must pay tax due within 30 days of the NOA date or arrange monthly GIRO installments.

For step-by-step guidance on e-filing, AIS Form IR8A, GIRO setup, and credit card payment options, read our guide on How to File & Pay Income Tax with IRAS.

Singapore Interactive Financial Calculators

Finsiva offers specialized, easy-to-use tax tools to help you plan your finances in Singapore:

Frequently Asked Questions