What Are Singapore’s Tax Rates in 2026? Corporate, Personal & GST Explained
Singapore consistently ranks among the most tax-efficient jurisdictions in Asia for both companies and individuals. Singapore taxation is administered by the Inland Revenue Authority of Singapore (IRAS), and combines a flat 17% corporate tax rate, progressive personal income tax capped at 24%, no capital gains tax, and one of the region’s most extensive networks of double taxation agreements.
This guide breaks down how corporate tax in Singapore, personal income tax, GST, withholding tax, and stamp duty work in 2026 and what foreign investors and individuals need to file correctly and on time.
What Is Corporate Tax in Singapore?
Singapore operates a one-tier corporate tax system, so there is no double taxation on dividends. The corporate tax rate is a flat 17% of chargeable income (total taxable revenue less allowable expenses and deductions), applied equally to local and foreign companies.
Companies in Singapore benefit from the various tax incentives afforded to them by the state. For example, starting in 2020, newly incorporated companies are exempted from taxation for three consecutive years, provided they fall under the specific qualifications.
Moreover, the taxation of non-resident companies is generally similar to that of a resident company. Therefore, if a company qualifies as a tax resident in Singapore, it can also avail of the different tax incentives and exemptions available to other companies in Singapore.
1. Estimated Chargeable Income (ECI) Filing
ECI is an estimate of your company’s taxable profits (after deducting tax-allowable expenses) for a Year of Assessment (YA). In general, your Singapore company has to file ECI within 3 months from the end of your financial year.
2. Start-Up Tax Exemption (SUTE): first 3 Years of Assessment
- 75% exemption on the first S$100,000 of chargeable income
- 50% exemption on the next S$100,000 of chargeable income
Eligibility: Incorporated in Singapore, tax resident for that YA, and share capital held by no more than 20 shareholders (all individuals, or at least one individual holding 10%+ of ordinary shares). Investment holding companies and property development companies do not qualify.
3. Partial Tax Exemption (PTE): all other companies
From YA 2020 onwards, the partial tax exemption for all companies is as follows
- 75% tax exemption on the first S$10,000 of chargeable income
- 50% on the next S$190,000 of chargeable income
YA 2026 Corporate Income Tax Rebate: For Year of Assessment 2026, all tax-paying companies (resident and non-resident) receive a 50% Corporate Income Tax Rebate, capped at S$40,000. Active companies that made CPF contributions for at least one local employee in 2025 also receive a minimum S$1,500 cash grant. This rebate is computed and applied automatically by IRAS; no separate application is required.
What Is Capital Gains Tax in Singapore?
In Singapore, capital gains tax are not subjected to tax. For example, if a trading company sells its office property, the company does not have to pay tax on the capital gains generated from the sale.
This applies to gains from the sale of fixed assets, investments, and foreign exchange on capital transactions. However, IRAS may treat frequent, trade-like gains as income rather than capital gains, in which case they become taxable.
What Are Tax–Exempt Dividends in Singapore?
Singapore Resident Companies can issue tax-free dividends, i.e., shareholders will not be taxed on this dividend income.
-
Foreign Income
Companies or individuals may either source their income from within the country, outside, or both. When it comes to foreign-sourced income, Singapore adopts the territorial basis of taxation. This means that income derived from abroad is taxable when remitted and received in Singapore.
Moreover, it is important to note that the remitted foreign-sourced income is only taxable when it belongs to a resident in Singapore. This means that the foreign income of nonresident individuals and foreign corporations can remit their income in Singapore without taxes. Therefore, they do not have to worry about taxation when using Singapore’s banking and fund management facilities.
-
Goods and Services Tax (GST)
Goods and Services Tax (GST) is Singapore’s broad-based consumption tax, equivalent to VAT in other countries. The current GST rate is 9%, applying to most goods and services supplied in Singapore, as well as imported goods.
A business must register for GST once its taxable turnover exceeds S$1 million (based on the past 12 months or a reasonable forecast of the next 12 months). Below this threshold, registration is voluntary.
Supplies fall into three categories:
- Standard-rated: The general list of goods and services, taxed at 9%
- Zero-rated: Exports and international services, taxed at 0%
- Exempt: Most financial services, sale/lease of residential property, and investment in precious metals
GST Filing Deadlines: GST-registered businesses file returns via the myTax Portal, typically on a quarterly basis, with the return and payment due within one month after the end of each accounting period. Late filing attracts a 5% late payment penalty plus interest, and repeated non-compliance can lead to estimated assessments and further penalties from IRAS.
-
Personal Tax
Personal income tax in Singapore is progressive, starting at 0% and rising to a top marginal rate of 24% for chargeable income above S$1,000,000 (for tax resident individuals). Singapore does not impose capital gains tax or inheritance tax on individuals.
Tax residents: They are treated as tax residents for a Year of Assessment if you are a Singapore Citizen, a Singapore Permanent Resident residing here except for temporary absences, or a foreigner who has worked in Singapore for at least 183 days in the calendar year (or continuously across two calendar years). Tax residents are taxed on the progressive scale above and can claim personal reliefs.
Non-residents: They are taxed at a flat rate of 15% on employment income, or at resident progressive rates, whichever results in a higher tax amount. Other income (director’s fees, consultancy, rental income) is generally taxed at 24% for non-residents.
-
Withholding Tax
Withholding tax is a tax deduction at the source. Generally, it is charged to a non-resident company or person who derives its income from providing services or carrying out works in Singapore. Taxation law requires that these non-resident entities withhold a certain percentage of the payment they receive from a Singapore company or individual. The amount withheld is then reported and paid to IRAS.
Withholding tax is levied only on income derived within Singapore. Only specific types of payments to non-residents for work or services done in Singapore. These payments include interest, commission, or fee on any loan or indebtedness. Royalty, management fees, and rent are also subject to withholding tax.
-
Stamp Duty
Stamp duty is an indirect tax imposed on documents relating to the transfer of immovable properties and shares. This tax is generally borne and paid by the buyer of such properties. It is computed based on prescribed rates applied to the market value of the property or consideration paid, whichever is higher.
Stamp duty on the share transfers is computed at 0.2% of the purchase price or the net asset value of the shares. Remember, that this stamp duty is only for the transfer of shares; thus, there is no stamp duty on the issuance or sale of shares listed on the stock exchange. Moreover, stamp duty on the transfer of immovable properties, whether residential or commercial, runs from 1% to 4% on the purchase price or market value of the property. In addition to that, certain categories of residential property buyers are required to pay for an additional buyer’s stamp duty.
How Do I File Taxes in Singapore Online?
Both individuals and companies file taxes digitally through IRAS’s myTax Portal, using SingPass for secure login.
- Individuals: E-Filing typically opens 1 March, with the filing deadline on 18 April each year (15 April for paper filing). Most employees have income pre-filled via the Auto-Inclusion Scheme.
- Companies: File Estimated Chargeable Income (ECI) within 3 months of financial year-end, and the annual Corporate Income Tax Return (Form C-S, Form C-S Lite, or Form C) by 30 November.
Engaging a corporate service provider such as 3E Accounting removes the administrative burden of tracking these deadlines and ensures every applicable exemption and rebate is correctly claimed.
Does Singapore Have Double Taxation Agreements?
Yes. Singapore has signed Avoidance of Double Taxation Agreements (DTAs) with more than 90 countries, reducing or eliminating double taxation on cross-border income such as dividends, interest, and royalties.
Foreign tax credits may also be claimed where foreign-sourced income has already been taxed abroad at a headline rate of at least 15%. This network is one of the reasons multinational groups continue to use Singapore as a regional holding and treasury hub.
Partner With 3E Accounting for Trusted Singapore Tax Advisory
Singapore’s tax system remains one of the most competitive in the world, combining a flat 17% corporate rate, generous start-up and partial exemptions, no capital gains tax, and a progressive personal tax structure capped at 24%. For foreign investors and individuals alike, understanding how each tax type applies and which reliefs, rebates, and treaty benefits are available can materially reduce your overall tax burden while keeping your business fully compliant with IRAS.
3E Accounting has supported businesses and individuals across Singapore with corporate tax planning, GST registration, personal income tax filing, and IRAS compliance for over a decade. Whether you are incorporating a new company, expanding into Singapore, or simply need clarity on your filing obligations, our tax specialists can guide you through every step.