About taxes in Singapore

Singapore uses a progressive personal income tax for tax residents (≥183 days in Singapore in the calendar year), with rates from 0% on the first SGD 20,000 up to 24% above SGD 1,000,000 (for YA 2024 onward). The Year of Assessment runs the calendar year following income earned (so YA 2026 taxes income earned in 2025). Non-residents on employment income pay the higher of a flat 15% or the resident progressive rate. The Central Provident Fund (CPF) — Singapore's mandatory retirement, healthcare and housing scheme — applies only to Singapore Citizens and Permanent Residents. Employees aged under 55 contribute 20% of Ordinary Wages, capped at SGD 7,400/month (2025+), with an additional employer contribution of 17%. Foreign professionals on Employment Pass (EP), S Pass or Personalised EP do not contribute to CPF — they keep all of their salary subject to income tax only. There's no payroll withholding for residents: tax is assessed annually and paid in instalments via GIRO. Many expats also receive employer-paid housing, schooling and relocation benefits which may be taxable in kind. Singapore offers generous personal reliefs (earned income relief, spouse relief, qualifying child relief) that can significantly reduce taxable income — these aren't modelled in this simplified estimate.