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Essential information for individuals who are required to pay Income Tax.

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Obligation to Pay Tax

Individuals are taxed based on the income earned in the preceding calendar year. This means that income earned in the calendar year 2020 will be taxed in the Year of Assessment (YA) 2021.

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Individuals are taxed based on the income earned in the preceding calendar year. This means that income earned in the calendar year 2020 will be taxed in the Year of Assessment (YA) 2021.

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All individuals earning, deriving or receiving income in Singapore need to pay income tax every year, unless specifically exempted under the Income Tax Act or by an Administrative Concession.

Individuals Working in Singapore

All individuals who receive payments (whether in the form of cash or benefits-in-kind) for any service rendered in or any form of employment from Singapore need to pay income tax, unless specifically exempted under the Income Tax Act. Find out more in Working in Singapore and Taxes.

Individuals Doing Business in Singapore

All self-employed individuals such as sole-proprietors, partners, freelancers, taxi drivers, hawkers, commission agents, etc. who derive their income in Singapore need to pay income tax.

Individuals with Investments in Singapore

All individuals who derive income from their investments in property, shares, unit trusts, fixed deposits, etc. in Singapore need to pay income tax, unless their investment is specifically exempted under the Income Tax Act. Find out more details in Taxes on Investments in Singapore.

Individuals Working Outside Singapore

The following individuals need to pay income tax:

  • Individuals working outside Singapore whose overseas employment is incidental to their Singapore employment; or
  • Individuals working outside Singapore on behalf of the Singapore Government; or
  • Individuals who receive income through a partnership in Singapore.
  • Learn more in Working Overseas and Taxes.

Individuals who are not Working but Receiving Income

Individuals who are not working but receiving any of the following income need to pay income tax, unless they are specifically exempted under the Income Tax Act:

  • Income from investments;
  • NSman income (including all awards and allowance such as IPPT monetary incentives);
  • Part-time income;
  • Royalty income;
  • Pension; or
  • Supplementary Retirement Scheme (SRS) withdrawals.
  • Find out more in Not Working in Singapore.

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Individuals Exempted from Paying Tax

Generally, you do not need to pay income tax if you satisfy the following conditions:

  • You are earning gross income of $22,000 or less in a year;
  • You do not derive or receive any income in Singapore.

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