Individuals (resident and non-resident), are only liable to income tax in respect of income accruing in or derived from Singapore. The tax year is the calendar year.
- Paper file - 15 April
- E-file - 18 April
- Bulk extension by tax preparer - 30 June
Most taxpayers should receive their Notice of Assessment from end of April onwards. These are issued in batches so some taxpayers may receive them earlier than others.
Tax assessed has to be paid within 1 month from the date of the Notice of Assessment unless the taxpayer is allowed to pay by instalment through GIRO (a direct debit plan). If you disagree with the tax assessment, you have 30 days to file an objection.
From YA2024, two new personal income tax (PIT) rates of 23% and 24% will be introduced on top of the existing progressive tax rates.
From YA2024, two new personal income tax (PIT) rates of 23% and 24% will be introduced on top of the existing progressive tax rates.
Singapore Citizens and Permanent Residents are subject to Central Provident Fund (CPF) contributions on their employment income.
For the first two years of an employee obtaining Singapore Permanent Resident status, both employer and employee will contribute CPF at graduated rates, unless both parties jointly apply to contribute CPF at a higher rate.
Employer contributions gradually commence when an employee’s wages are more than $50 a month. Employee contributions gradually commence when wages are more than $500 a month. The maximum contribution rate occurs when wages are more than $750 a month, as summarised by the table below.
| Contribution rates (monthly wages > $750) | ||
| Employee’s age (years) |
By employer (% of wage) |
By employee (% of wage) |
| 55 and below | 17 | 20 |
| Above 55 to 60 | 14.5 (14 before 1 Jan 2023) | 15 (14 before 1 Jan 2023) |
| Above 60 to 65 | 11 (10 before 1 Jan 2023) | 9.5 (8.5 before 1 Jan 2023) |
| Above 65 to 70 | 8.5 (8 before 1 Jan 2023) | 7 (6 before 1 Jan 2023) |
| Above 70 | 7.5 | 5 |
A handy guide of Singapore Tax facts, to keep you up to date of the tax rates and conditions.
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