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Tax Rates for Non-Residents

Updated: Dec 20, 2023



Tax Rates for Non-Residents in Singapore


The tax rates for non-residents in Singapore vary depending on the type of income:


General Income:


  • Flat rate of 22%: This applies to all income earned in Singapore except for employment income and certain income with reduced withholding rates.

  • Increase to 24% from YA 2024: Starting from the Year of Assessment (YA) 2024, the general income tax rate for non-residents will increase to 24%.


Employment Income:


  • Flat rate of 15% or progressive resident rates (whichever is higher): This applies to non-residents who have stayed in Singapore for more than 60 days in a calendar year. Director's fees and other income do not qualify for this concession.

  • No personal reliefs: Non-residents cannot claim personal reliefs and deductions available to resident taxpayers.


Additional Information:


  • Reduced withholding rates: Certain types of income like interest and royalties have reduced withholding rates, which typically range from 0% to 15%.

  • No tax on capital gains, dividends, or inheritance: Singapore does not levy taxes on capital gains, dividends, or inheritance.

  • Foreign-sourced income: With a few exceptions, income earned outside of Singapore is generally exempt from Singapore tax.


Resources:


  • IRAS website: You can find more detailed information about tax rates for non-residents on the Inland Revenue Authority of Singapore (IRAS) website:

  • Tax Calculator for Non-Resident Individuals: IRAS also provides a tax calculator to estimate your tax payable


Professional Tax Advice


Consult with Bestar's qualified tax advisor for specific advice regarding your individual situation.


Here are some ways to reach Bestar and obtain tax advice from our qualified professionals:


  1. Visit our website: The Bestar website has a contact form and details about our services. You can use the form to submit your inquiry and request to speak with a tax advisor.

  2. Call our office: You can find our phone number on our website for tax-related inquiries.

  3. Email us directly: If you have specific contact information for Bestar's tax advisors, you can reach out directly via email.

  4. Schedule a consultation: Our firm offers initial consultations to discuss your situation and assess your needs. This can be a good way to evaluate your suitability with Bestar and our advisors.


Remember, the most important thing is to get your individual situation assessed by a qualified professional. Do not hesitate to reach out to Bestar reputable tax advisor to ensure you receive the best guidance for your specific circumstances.



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