Tax in Singapore: GST, income tax, company tax, capital gains

9%

A 9% tax on most goods, services and imports in Singapore. The rate is verified against Inland Revenue Authority of Singapore on 19 August 2026; the top personal income-tax rate is 24% (2026 (YA 2027) tax year, Inland Revenue Authority of Singapore (IRAS); CPF Board), and the headline company tax rate is 17% (Inland Revenue Authority of Singapore).

Source:IRAS· verified Aug 2026

GST in Singapore

Value-added: output GST less input GST. The rate rose from 8% to 9% in 2024.

Standard rate
9%
Local name
GST — Goods and Services Tax
Type
GST
Reduced rates
None on record
Registration threshold
SGD 1 million turnover/yr
Filing
Quarterly (GST F5)
Authority
Inland Revenue Authority of Singapore
Current rate since
1 January 2024
✓ verified Aug 2026 · IRAS

Introduced 1 April 1994

On the recommendation of the 1986 Economic Committee, Singapore decided it needed to shift from direct to indirect taxes to stay competitive for investment and prepare for an ageing population. GST was implemented at a single rate of 3% on 1 April 1994 — among the lowest consumption-tax rates in the world at the time — with an assurance it would not be raised for at least five years. The introduction came alongside cuts to income tax (corporate and top personal rates, both 40% prior to 1986, were progressively reduced, with a further 3-point cut simultaneous with GST in 1994 to 27% and 30% respectively).

What it replaced: n/a — Singapore had no broad consumption tax before GST; it was introduced as a deliberate shift from direct (income) to indirect (consumption) taxation on the 1986 Economic Committee's recommendation, paired with cuts to corporate and top personal income tax (which had both stood at 40% prior to 1986).

Income tax in Singapore

The top personal income-tax band is 24% for the 2026 (YA 2027) tax year.

Singapore income tax calculator →

Company tax in Singapore

The headline corporate income tax rate is 17%. In effect since 1 January 2026.

Flat 17% on chargeable income for local and foreign companies. No reduced rate, but partial tax exemption (75% of first S$10,000 and 50% of next S$190,000 of normal chargeable income) and start-up exemption (75% of first S$100,000 and 50% of next S$100,000 for first 3 YAs). Budget 2026: CIT Rebate of 40% of tax payable for YA 2026 (with cash-grant minimum S$1,500, cap S$30,000; IRAS page notes a later update). Pillar Two (MTT/DTT) not checked on an official page this session. | Cross-check: OECD 2026: central statutory CIT 17%, combined (central+sub-central) 17%

✓ verified Oct 2026 · Inland Revenue Authority of Singapore

Singapore company tax calculator →

Capital gains tax in Singapore

Shares
Not taxed (no capital gains tax); gains are taxable as ordinary income only if the individual is trading (badges of trade)
Property
Not taxed (no capital gains tax) unless trading; separately, Seller's Stamp Duty (SSD) applies to residential property sold within 4 years of purchase: 16% (<=1 yr), 12% (1-2 yrs), 8% (2-3 yrs), 4% (3-4 yrs), 0% after 4 years, for residential property purchased on/after 4 July 2025
Holding period
None for tax; holding period is one of the badges-of-trade factors

Singapore capital gains tax calculator →

Did you know? Singapore tax facts

  • Singapore launched GST at just 3% in 1994 — with an assurance it would not be raised for at least five years — as a gradual introduction rather than a revenue grab.

    The 3% rate was among the lowest consumption-tax rates in the world; it later rose to 4% (2003), 5% (2004), 7% (2007), 8% (2023) and 9% (2024).

    Source: Goods and Services Tax (Singapore) — Wikipedia ↗
  • When GST arrived on 1 April 1994, Singapore simultaneously cut its corporate and top personal income tax rates by 3 percentage points (to 27% and 30%) — part of a deliberate shift from direct to indirect taxation, not an extra tax piled on top.

    Both rates had stood at 40% prior to 1986; the move was made on the 1986 Economic Committee's recommendation that Singapore shift from direct to indirect taxes.

    Source: Goods and Services Tax (Singapore) — Wikipedia ↗
  • Every Singapore GST hike has come bundled with an offset package that hands lower-income households more than the increase costs them: when the rate rose from 5% to 7% in 2007, the poorest 20% paid about S$370 a year more but received a S$910 offset plus S$1,000 in permanent annual benefits.

    The offsets keep growing: the 'Assurance Package' tied to the 2023–24 hikes was enhanced to over S$10 billion by September 2023.

    Source: Goods and Services Tax (Singapore) — Wikipedia ↗
  • Gold, silver and platinum bullion are completely GST-exempt in Singapore — the government treats investment-grade precious metals like financial assets rather than goods.

    The exemption took effect on 1 October 2012 to grow Singapore into a bullion-trading hub; metals must meet purity standards (gold 99.5%, silver 99.9%, platinum 99%) and be in tradable bar/coin/ingot/wafer form.

    Source: Singapore Customs — GST Exemption for Investment Precious Metals ↗
  • Singapore set up a standing 'Committee Against GST Profiteering' in 1994 to investigate businesses using the tax as cover to jack up prices.

    The committee investigates complaints of unjustified price increases blamed on GST and was reactivated for later rate changes.

    Source: Goods and Services Tax (Singapore) — Wikipedia ↗
  • Singapore's income tax starts at 0% on the first S$20,000 and climbs through a dozen steps to a top rate of 24% on chargeable income above S$1 million.

    IRAS resident rates (YA 2024 onwards): 2% on the next $10,000, then 3.5%, 7%, 11.5%, 15%, 18%, 19%, 19.5%, 20%, 22% on $320,000–$500,000, 23% to $1,000,000 and 24% 'In excess of $1,000,000'; non-resident employment income is taxed at a flat 15% or the resident rates, whichever gives the higher tax.

    Source: IRAS — Individual income tax rates · checked 10 October 2026 ↗
  • Singapore has no capital gains tax: IRAS says gains from selling property, shares and financial instruments 'are generally not taxable' — unless you are found to be trading, judged by frequency, motive and holding.

    IRAS: 'Gains from the sale of a property, shares and financial instruments in Singapore are generally not taxable. However, gains from "trading in properties" may be taxable', with the factors being frequency of transactions, motive, financial means to hold long term and holding period.

    Source: IRAS — Gains from sale of property, shares and financial instruments · checked 10 October 2026 ↗
  • Singapore's CPF takes 37% of a younger worker's monthly wage — 20% from the employee and 17% from the employer — for everyone aged 55 and below.

    CPF Board, 'Contribution rates from 1 January 2026 (monthly wages > $750)': for employees aged 55 and below the employer pays 17% of wage, the employee 20%, a total of 37%; different ceilings apply to Ordinary Wages and Additional Wages.

    Source: CPF Board — How much CPF contributions to pay · checked 10 October 2026 ↗
  • Singapore's corporate tax is a flat 17%, but partial exemption makes 75% of the first S$10,000 and 50% of the next S$190,000 of profit tax-free — and new start-ups get 75% off their first S$100,000 for three years.

    IRAS: 'Your company is taxed at a flat rate of 17% of its chargeable income'; Partial Tax Exemption (YA 2020 onwards): '75% exemption on the first $10,000' and 'A further 50% exemption on the next $190,000'; the start-up exemption gives 75% on the first $100,000 and 50% on the next $100,000 for the first three YAs.

    Source: IRAS — Corporate income tax rate, rebates and tax exemption schemes · checked 10 October 2026 ↗

More stories, for every country that has one, on the tax facts page.

Ask your AI assistant about tax in Singapore

The figures on this page are callable by any MCP-compatible assistant through the free Tax MCP. Add https://taxmcp.ai2fin.com as a custom connector in Claude, ChatGPT, Cursor or your own agent — no login, no API key — then ask:

  • “What is the GST rate in Singapore, and what is the source?”
  • “Estimate income tax in Singapore on SGD 60,000 for 2026 (YA 2027).”
  • “What is the company tax rate in Singapore and how is it sourced?”

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Singapore, answered

Questions about tax in Singapore

What is the GST rate in Singapore?
The standard GST (Goods and Services Tax) rate in Singapore is 9%, verified against Inland Revenue Authority of Singapore on 19 August 2026. Value-added: output GST less input GST. The rate rose from 8% to 9% in 2024.
What is the top income tax rate in Singapore?
The top personal income-tax band in Singapore is 24% for the 2026 (YA 2027) tax year, verified against Inland Revenue Authority of Singapore (IRAS); CPF Board on 6 October 2026. The free income-tax calculator on this site works through the bands below it, and shows the rate table it used.
What is the company tax rate in Singapore?
The headline corporate income tax rate in Singapore is 17%, verified against Inland Revenue Authority of Singapore on 6 October 2026. Flat 17% on chargeable income for local and foreign companies. No reduced rate, but partial tax exemption (75% of first S$10,000 and 50% of next S$190,000 of normal chargeable income) and start-up exemption (75% of first S$100,000 and 50% of next S$100,000 for first 3 YAs). Budget 2026: CIT Rebate of 40% of tax payable for YA 2026 (with cash-grant minimum S$1,500, cap S$30,000; IRAS page notes a later update). Pillar Two (MTT/DTT) not checked on an official page this session. | Cross-check: OECD 2026: central statutory CIT 17%, combined (central+sub-central) 17%
How is capital gains tax charged in Singapore?
In Singapore, individuals generally pay no tax on gains, trading aside, verified against Monetary Authority of Singapore (joint MND/MOF/MAS release) on 6 October 2026. On shares: Not taxed (no capital gains tax); gains are taxable as ordinary income only if the individual is trading (badges of trade) Holding period: None for tax; holding period is one of the badges-of-trade factors
Can an AI assistant look up tax rates for Singapore?
Yes. The free Tax MCP at https://taxmcp.ai2fin.com gives Claude, ChatGPT, Cursor or any MCP-compatible agent the same sourced figures as this page: the GST rate, an income-tax estimate, the company tax rate, the capital gains rule and a side-by-side comparison with other countries, each answer citing the authority and the date it was checked. Add the endpoint as a custom connector; there is no login or API key.

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