- Singapore generally follows a progressive tax rate starting at 0% and ending at 20% for income above S$320,000. From Year of Assessment 2017 onwards, it will be 22% for income above S$320,000.
- Income tax rates differ according to the type of business you operate.
- If you need more information on income tax and corporate tax rates, you can refer to the following:
Deductions & Reliefs
- Use tax deductions and reliefs to reduce your tax payable.
- Your tax payable depends on your chargeable income, i.e. income subject to taxes. This is your business’ total income minus any deductions and reliefs.
- For sole-proprietors, your trade/business income forms part of your personal income. Therefore, you may use personal reliefs (e.g. Parent Relief or Child Relief) and donations to reduce taxes.
- For more details, please refer to these pages.
When To Pay
Be sure to pay your taxes promptly in order to avoid penalty fees or risking imprisonment.
- Pay taxes within 1 month of receiving the Notice of Assessment and Statement of Account.
B. Partnerships & Companies
- Pay taxes within 1 month of receiving the Notice of Assessment.
How To Pay
- Pay off all taxes at one go or by monthly instalments using GIRO.
- Pay taxes via other electronic payment modes, cash, cheque/cashier’s order.
Getting More Information
- Read these resources for more in-depth information:
- You may also contact IRAS:
- Local Toll-Free: 1800 356 8300
- Helpline: (65) 6351 4358
- Email via IRAS website