Tax OECD

Tax OECD

Personal income tax rate in Singapore is one of the lowest in the world. In order to determine the Singapore income tax liability of an individual, you need to first determine the tax residency and amount of chargeable income and then apply the progressive resident tax rate to it. Key points of Singapore income tax for individuals include:woontax Singapore follows a progressive resident tax rate starting at 0% and ending at 22% above S$320,000. There is no capital gain or inheritance tax. Individuals are taxed only on the income earned in Singapore. The income earned by individuals while working overseas is not subject to taxation barring a few exceptions. Tax rules differ based on the tax residency of the individual. Tax filing due date for individuals is April 15 of each year. Income tax is assessed based on a preceding year basis. Our Singapore Accounting and Tax experts offer full capabilities in bookkeeping for your transactions and annual tax filing requirements. Having served 1500+ clients in Singapore, our certified and experienced team of accountants can help manage the complexity of regulatory requirements to ensure your company is compliant. The STA introduced 17 measures to facilitate tax and fee payment in six areas The State Taxation Administration carried out the "Spring Action of Tax Convenience for the People" for the 10th consecutive year with the theme of "Doing Good Things for the People and Modernizing Services". China's tax and fee cuts, refunds, deferrals exceed 4 trillion yuan in 2022Tax data shows consumption growth in China's Spring Festival holiday.