Day: October 20, 2017

Increase in tax rates for individuals

Starting from Year of Assessment 2017, Singapore’s personal income tax rates for resident taxpayers start from the lowest rate of 2% (for chargeable income $20,001 – $30,000, first $20,000 at 0%) to the highest personal income tax rate at 22% (for chargeable income $320,001 onward). The changes also mean that the tax rate for non-resident… Continue reading Increase in tax rates for individuals