Tax Rates
| Tax Year | Tax Rate (Excluding SPSE Listed Companies) | Tax Rate for SPSE Listed Companies | Concessionary Rate for Regional or Global Headquarters | Effective Date |
|---|---|---|---|---|
| 2024 | 25% | 25% or 15% upto 7 Years | 25% | Tax Year 2024 Onwards |
| 2023 | 25% | 25% or 15% upto 7 Years | 25% | Tax Year 2023 |
| 2022 | 20% | 20% or 10% upto 7 Years | 17% | Tax Year 2022 |
| 2021 | 20% | 10% | 17% | Tax Year 2021 |
| 2020 | 20% | 10% | 17% | Tax Year 2020 |
| 2019 | 20% | 10% | 17% | Tax Year 2019 |
| 2018 | 20% | 10% | 17% | Tax Year 2018 |
Resident Income Tax Rate
Year of Assessment 2022 Onwards
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) |
|---|---|---|
| 0 – 30,000 | Nil | Nil |
| 30,001 – 50,000 | 18% of excess over $30,000 | Nil |
| 50,001 – 270,000 | $3,600 + 20% of excess over $50,000 | Nil |
| 270,001 – 300,000 | $47,600 + 20% of excess over $270,000 | 18% of excess over $270,000 |
| 300,001 – 350,000 | $53,600 + 20% of excess over $300,000 | $5,400 + 19% of excess over $300,000 |
| 350,001 – 400,000 | $63,600 + 20% of excess over $350,000 | $14,900 + 20% of excess over $350,000 |
| 400,001 – 450,000 | $73,600 + 20% of excess over $400,000 | $24,900 + 21% of excess over $400,000 |
| 450,001 – 500,000 | $83,600 + 20% of excess over $450,000 | $35,400 + 22% of excess over $450,000 |
| 500,001 – 1,000,000 | $93,600 + 20% of excess over $500,000 | $46,400 + 23% of excess over $500,000 |
| 1,000,001 + | $193,600 + 20% of excess over $1,000,000 | $161,400 + 24% of excess over $1,000,000 |
Year of Assessment 2020 and 2021
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) | Environment and Climate Adaptation Levy ($) |
|---|---|---|---|
| 0 – 30,000 | Nil | Nil | Nil |
| 30,001 – 50,000 | 18% of excess over $30,000 | Nil | Nil |
| 50,001 – 270,000 | $3,600 + 20% of excess over $50,000 | Nil | Nil |
| 270,001 – 300,000 | $47,600 + 20% of excess over $270,000 | 18% of excess over $270,000 | 5% of excess over $270,000 |
| 300,001 – 350,000 | $53,600 + 20% of excess over $300,000 | $5,400 + 19% of excess over $300,000 | 5% of excess over $270,000 |
| 350,001 – 400,000 | $63,600 + 20% of excess over $350,000 | $14,900 + 20% of excess over $350,000 | 5% of excess over $270,000 |
| 400,001 – 450,000 | $73,600 + 20% of excess over $400,000 | $24,900 + 21% of excess over $400,000 | 5% of excess over $270,000 |
| 450,001 – 500,000 | $83,600 + 20% of excess over $450,000 | $35,400 + 22% of excess over $450,000 | 5% of excess over $270,000 |
| 500,001 – 1,000,000 | $93,600 + 20% of excess over $500,000 | $46,400 + 23% of excess over $500,000 | 5% of excess over $270,000 |
| 1,000,001 + | $193,600 + 20% of excess over $1,000,000 | $161,400 + 24% of excess over $1,000,000 | 5% of excess over $270,000 |
Year of Assessment 2018 and 2019
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) | Environment and Climate Adaptation Levy (ECAL) ($) |
|---|---|---|---|
| 0 – 30,000 | Nil | Nil | Nil |
| 30,001 – 50,000 | 18% of excess over $30,000 | Nil | Nil |
| 50,001 – 270,000 | $3,600 + 20% of excess over $50,000 | Nil | Nil |
| 270,001 – 300,000 | $47,600 + 20% of excess over $270,000 | 13% of excess over $270,000 | 10% of excess over $270,000 |
| 300,001 – 350,000 | $53,600 + 20% of excess over $300,000 | $3,900 + 14% of excess over $300,000 | 10% of excess over $270,000 |
| 350,001 – 400,000 | $63,600 + 20% of excess over $350,000 | $10,900 + 15% of excess over $350,000 | 10% of excess over $270,000 |
| 400,001 – 450,000 | $73,600 + 20% of excess over $400,000 | $18,400 + 16% of excess over $400,000 | 10% of excess over $270,000 |
| 450,001 – 500,000 | $83,600 + 20% of excess over $450,000 | $26,400 + 17% of excess over $450,000 | 10% of excess over $270,000 |
| 500,001 – 1,000,000 | $93,600 + 20% of excess over $500,000 | $34,900 + 18% of excess over $500,000 | 10% of excess over $270,000 |
| 1,000,001 + | $193,600 + 20% of excess over $1,000,000 | $124,900 + 19% of excess over $1,000,000 | 10% of excess over $270,000 |
Year of Assessment 2017 (1st August – 31st December 2017)
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) | Environmental and Climate Adaptation Levy (ECAL) ($) |
|---|---|---|---|
| 0 – 30,000 | Nil | Nil | Nil |
| 30,001 – 50,000 | 18% of excess over $30,000 | Nil | Nil |
| 50,001 – 270,000 | $3,600 + 20% of excess over $50,000 | Nil | Nil |
| 270,001 – 300,000 | $47,600 + 20% of excess over $270,000 | 13% of excess over $270,000 | 10% of excess over $270,000 |
| 300,001 – 350,000 | $53,600 + 20% of excess over $300,000 | $3,900 + 14% of excess over $300,000 | 10% of excess over $270,000 |
| 350,001 – 400,000 | $63,600 + 20% of excess over $350,000 | $10,900 + 15% of excess over $350,000 | 10% of excess over $270,000 |
| 400,001 – 450,000 | $73,600 + 20% of excess over $400,000 | $18,400 + 16% of excess over $400,000 | 10% of excess over $270,000 |
| 450,001 – 500,000 | $83,600 + 20% of excess over $450,000 | $26,400 + 17% of excess over $450,000 | 10% of excess over $270,000 |
| 500,001 – 1,000,000 | $93,600 + 20% of excess over $500,000 | $34,900 + 18% of excess over $500,000 | 10% of excess over $270,000 |
| 1,000,001 + | $193,600 + 20% of excess over $1,000,000 | $124,900 + 19% of excess over $1,000,000 | 10% of excess over $270,000 |
Year of Assessment 2017 (1st January – 31st July)
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) |
|---|---|---|
| 0 – 16,000 | Nil | Nil |
| 16,001 – 22,000 | 7% of excess over $16,000 | Nil |
| 22,001 – 50,000 | $420 + 18% of excess over $22,000 | Nil |
| 50,001 – 270,000 | $5,460 + 20% of excess over $50,000 | Nil |
| 270,001 – 300,000 | $49,460 + 20% of excess over $270,000 | 23% of excess over $270,000 |
| 300,001 – 350,000 | $55,460 + 20% of excess over $300,000 | $6,900 + 24% of excess over $300,000 |
| 350,001 – 400,000 | $65,460 + 20% of excess over $350,000 | $18,900 + 25% of excess over $350,000 |
| 400,001 – 450,000 | $75,460 + 20% of excess over $400,000 | $31,400 + 26% of excess over $400,000 |
| 450,001 – 500,000 | $85,460 + 20% of excess over $450,000 | $44,400 + 27% of excess over $450,000 |
| 500,001 – 1,000,000 | $95,460 + 20% of excess over $500,000 | $57,900 + 28% of excess over $500,000 |
| 1,000,001 + | $195,460 + 20% of excess over $1,000,000 | $197,900 + 29% of excess over $1,000,000 |
Year of Assessment 2013, 2014, 2015, 2016
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) |
|---|---|---|
| 0 – 16,000 | Nil | Nil |
| 16,001 – 22,000 | 7% of excess over $16,000 | Nil |
| 22,001 – 50,000 | $420 + 18% of excess over $22,000 | Nil |
| 50,001 – 270,000 | $5,460 + 20% of excess over $50,000 | Nil |
| 270,001 – 300,000 | $49,460 + 20% of excess over $270,000 | 23% of excess over $270,000 |
| 300,001 – 350,000 | $55,460 + 20% of excess over $300,000 | $6,900 + 24% of excess over $300,000 |
| 350,001 – 400,000 | $65,460 + 20% of excess over $350,000 | $18,900 + 25% of excess over $350,000 |
| 400,001 – 450,000 | $75,460 + 20% of excess over $400,000 | $31,400 + 26% of excess over $400,000 |
| 450,001 – 500,000 | $85,460 + 20% of excess over $450,000 | $44,400 + 27% of excess over $450,000 |
| 500,001 – 1,000,000 | $95,460 + 20% of excess over $500,000 | $57,900 + 28% of excess over $500,000 |
| 1,000,001 + | $195,460 + 20% of excess over $1,000,000 | $197,900 + 29% of excess over $1,000,000 |
Year of Assessment 2012
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) |
|---|---|---|
| 0 – 15,600 | Nil | Nil |
| 15,601 – 22,000 | 7% of excess over $15,600 | Nil |
| 22,001 – 50,000 | $448 + 18% of excess over $22,000 | Nil |
| 50,001 – 270,000 | $5,488 + 20% of excess over $50,000 | Nil |
| 270,001 – 300,000 | $49,488 + 20% of excess over $270,000 | 23% of excess over $270,000 |
| 300,001 – 350,000 | $55,487 + 20% of excess over $300,000 | $6,900 + 24% of excess over $300,000 |
| 350,001 – 400,000 | $65,487 + 20% of excess over $350,000 | $18,900 + 25% of excess over $350,000 |
| 400,001 – 450,000 | $75,487 + 20% of excess over $400,000 | $31,400 + 26% of excess over $400,000 |
| 450,001 – 500,000 | $85,487 + 20% of excess over $450,000 | $44,400 + 27% of excess over $450,000 |
| 500,001 – 1,000,000 | $95,487 + 20% of excess over $500,000 | $57,900 + 28% of excess over $500,000 |
| 1,000,001 + | $195,488 + 20% of excess over $1,000,000 | $197,900 + 29% of excess over $1,000,000 |
Non-Resident Income Tax Rate
Year of Assessment 2022 Onwards
Information to be added.
Year of Assessment 2020 and 2021
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) | Environment and Climate Adaptation Levy ($) |
|---|---|---|---|
| 0 – 30,000 | 20% of excess over $0 | Nil | Nil |
| 30,001 – 50,000 | $6,000 + 20% of excess over $30,000 | Nil | Nil |
| 50,001 – 270,000 | $10,000 + 20% of excess over $50,000 | Nil | Nil |
| 270,001 – 300,000 | $54,000 + 20% of excess over $270,000 | 13% of excess over $270,000 | 5% of excess over $270,000 |
| 300,001 – 350,000 | $60,000 + 20% of excess over $300,000 | $3,900 + 14% of excess over $300,000 | 5% of excess over $270,000 |
| 350,001 – 400,000 | $70,000 + 20% of excess over $350,000 | $10,900 + 15% of excess over $350,000 | 5% of excess over $270,000 |
| 400,001 – 450,000 | $80,000 + 20% of excess over $400,000 | $18,400 + 16% of excess over $400,000 | 5% of excess over $270,000 |
| 450,001 – 500,000 | $90,000 + 20% of excess over $450,000 | $26,400 + 17% of excess over $450,000 | 5% of excess over $270,000 |
| 500,001 – 1,000,000 | $100,000 + 20% of excess over $500,000 | $34,900 + 18% of excess over $500,000 | 5% of excess over $270,000 |
| 1,000,001 + | $200,000 + 20% of excess over $1,000,000 | $124,900 + 19% of excess over $1,000,000 | 5% of excess over $270,000 |
Year of Assessment 2017 (1st August onwards), 2018 and 2019
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) | Environment and Climate Adaptation Levy ($) |
|---|---|---|---|
| 0 – 30,000 | 20% of excess over $0 | Nil | Nil |
| 30,001 – 50,000 | $3,200 + 20% of excess over $16,000 | Nil | Nil |
| 50,001 – 270,000 | $4,400 + 20% of excess over $22,000 | Nil | Nil |
| 270,001 – 300,000 | $54,000 + 20% of excess over $270,000 | 13% of excess over $270,000 | 10% of excess over $270,000 |
| 300,001 – 350,000 | $60,000 + 20% of excess over $300,000 | $3,900 + 14% of excess over $300,000 | 10% of excess over $270,000 |
| 350,001 – 400,000 | $70,000 + 20% of excess over $350,000 | $10,900 + 15% of excess over $350,000 | 10% of excess over $270,000 |
| 400,001 – 450,000 | $80,000 + 20% of excess over $400,000 | $18,400 + 16% of excess over $400,000 | 10% of excess over $270,000 |
| 450,001 – 500,000 | $90,000 + 20% of excess over $450,000 | $26,400 + 17% of excess over $450,000 | 10% of excess over $270,000 |
| 500,001 – 1,000,000 | $100,000 + 20% of excess over $500,000 | $34,900 + 18% of excess over $500,000 | 10% of excess over $270,000 |
| 1,000,001 + | $200,000 + 20% of excess over $1,000,000 | $124,900 + 19% of excess over $1,000,000 | 10% of excess over $270,000 |
Year of Assessment 2017 (1st January – 31st July)
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) |
|---|---|---|
| 0 – 16,000 | 20% of excess over $0 | Nil |
| 16,001 – 22,000 | $3,200 + 20% of excess over $16,000 | Nil |
| 22,001 – 50,000 | $4,400 + 20% of excess over $22,000 | Nil |
| 50,001 – 270,000 | $10,000 + 20% of excess over $50,000 | Nil |
| 270,001 – 300,000 | $54,000 + 20% of excess over $270,000 | 23% of excess over $270,000 |
| 300,001 – 350,000 | $60,000 + 20% of excess over $300,000 | $6,900 + 24% of excess over $300,000 |
| 350,001 – 400,000 | $70,000 + 20% of excess over $350,000 | $18,900 + 25% of excess over $350,000 |
| 400,001 – 450,000 | $80,000 + 20% of excess over $400,000 | $31,400 + 26% of excess over $400,000 |
| 450,001 – 500,000 | $90,000 + 20% of excess over $450,000 | $44,400 + 27% of excess over $450,000 |
| 500,001 – 1,000,000 | $100,000 + 20% of excess over $500,000 | $57,900 + 28% of excess over $500,000 |
| 1,000,001 + | $200,000 + 20% of excess over $1,000,000 | $197,900 + 29% of excess over $1,000,000 |
Year of Assessment 2016, 2015, 2013, and 2012
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) |
|---|---|---|
| 0 – 16,000 | 20% of excess over $0 | Nil |
| 16,001 – 22,000 | $3,200 + 20% of excess over $16,000 | Nil |
| 22,001 – 50,000 | $4,400 + 20% of excess over $22,000 | Nil |
| 50,001 – 270,000 | $10,000 + 20% of excess over $50,000 | Nil |
| 270,001 – 300,000 | $54,000 + 20% of excess over $270,000 | 23% of excess over $270,000 |
| 300,001 – 350,000 | $60,000 + 20% of excess over $300,000 | $6,900 + 24% of excess over $300,000 |
| 350,001 – 400,000 | $70,000 + 20% of excess over $350,000 | $18,900 + 25% of excess over $350,000 |
| 400,001 – 450,000 | $80,000 + 20% of excess over $400,000 | $31,400 + 26% of excess over $400,000 |
| 450,001 – 500,000 | $90,000 + 20% of excess over $450,000 | $44,400 + 27% of excess over $450,000 |
| 500,001 – 1,000,000 | $100,000 + 20% of excess over $500,000 | $57,900 + 28% of excess over $500,000 |
| 1,000,001 + | $200,000 + 20% of excess over $1,000,000 | $197,900 + 29% of excess over $1,000,000 |
Year of Assessment 2012
| Chargeable Income ($) | Tax Payable ($) | Social Responsibility Tax ($) |
|---|---|---|
| 0 – 15,600 | 20% of excess over $0 | Nil |
| 15,601 – 22,000 | $3,120 + 20% of excess over $15,600 | Nil |
| 22,001 – 50,000 | $4,400 + 20% of excess over $22,000 | Nil |
| 50,001 – 270,000 | $10,000 + 20% of excess over $50,000 | Nil |
| 270,001 – 300,000 | $53,999 + 20% of excess over $270,000 | 23% of excess over $270,000 |
| 300,001 – 350,000 | $59,999 + 20% of excess over $300,000 | $6,900 + 24% of excess over $300,000 |
| 350,001 – 400,000 | $69,999 + 20% of excess over $350,000 | $18,900 + 25% of excess over $350,000 |
| 400,001 – 450,000 | $79,999 + 20% of excess over $400,000 | $31,400 + 26% of excess over $400,000 |
| 450,001 – 500,000 | $89,999 + 20% of excess over $450,000 | $44,400 + 27% of excess over $450,000 |
| 500,001 – 1,000,000 | $99,999 + 20% of excess over $500,000 | $57,900 + 28% of excess over $500,000 |
| 1,000,001 + | $199,998 + 20% of excess over $1,000,000 | $197,900 + 29% of excess over $1,000,000 |
Year of Assessment 2011, 2010, 2009, and 2008
| Chargeable Income ($) | Tax Payable ($) |
|---|---|
| 0 – 9,000 | 20% of excess over $0 |
| 9,001 – 10,000 | $1,800 + 25% of excess over $9,000 |
| 10,001 – 20,000 | $2,050 + 30% of excess over $10,000 |
| 20,001 + | $5,050 + 31% of excess over $20,000 |
Year of Assessment 2007, 2006, and 2005
| Chargeable Income ($) | Tax Payable ($) |
|---|---|
| 0 – 8,840 | 20% of excess over $0 |
| 8,841 – 10,000 | $1,768 + 25% of excess over $8,840 |
| 10,001 – 20,000 | $2,058 + 30% of excess over $10,000 |
| 20,001 + | $5,058 + 31% of excess over $20,000 |
Year of Assessment 2004 and 2003
| Chargeable Income ($) | Tax Payable ($) |
|---|---|
| 0 – 7,500 | 20% of excess over $0 |
| 7,501 – 10,000 | $1,500 + 25% of excess over $7,500 |
| 10,001 – 20,000 | $2,125 + 30% of excess over $10,000 |
| 20,001 + | $5,125 + 32% of excess over $20,000 |
Year of Assessment 2002
| Chargeable Income ($) | Tax Payable ($) |
|---|---|
| 0 – 6,500 | 20% of excess over $0 |
| 6,501 – 10,000 | $1,300 + 25% of excess over $6,500 |
| 10,001 – 20,000 | $2,175 + 31% of excess over $10,000 |
| 20,001 + | $5,175 + 32% of excess over $20,000 |
Year of Assessment 2001
| Chargeable Income ($) | Tax Payable ($) |
|---|---|
| 0 – 6,500 | 20% of excess over $0 |
| 6,501 – 10,000 | $1,300 + 25% of excess over $6,500 |
| 10,001 – 20,000 | $2,175 + 31% of excess over $10,000 |
| 20,001 + | $5,175 + 34% of excess over $20,000 |
| Tax Year | Tax Rate | Effective Date |
|---|---|---|
| 2025 | 0%, 12.5% | 1st August 2025 |
| 2024 | 0%, 15% | 1st August 2024 |
| 2023 | 0%, 15% | 1st August 2023 |
| 2022 | 0%, 9%, 15% | 1st April 2022 |
| 2021 | 9% | |
| 2020 | 9% | |
| 2019 | 9% | |
| 2018 | 9% |
| Tax Year | FBT Rate |
|---|---|
| 2024 | 20% |
| 2023 | 20% |
| 2022 | 20% |
| 2021 | 20% |
| 2020 | 20% |
| 2019 | 20% |
| 2018 | 20% |
| Tax Year | CGT Rate |
|---|---|
| 2024 | 10% |
| 2023 | 10% |
| 2022 | 10% |
| 2021 | 10% |
| 2020 | 10% |
| 2019 | 10% |
| 2018 | 10% |
| Tax Year | Environment and Climate Adoptation Levy | Effective date |
|---|---|---|
| 2021 | 5% (3m) | Till 31st July 2021 |
| 2020 | 5% (3m) | 1st August 2020 |
| 2019 | 10% (1.25m) | |
| 2018 | 10% (1.25m) | 1st August 2018 |
| Tax Year | Service Turnover Tax | Effective Date |
|---|---|---|
| 2020 | 6% (1.25m) | Till 31st July 2020 |
| 2019 | 6% (1.25m) | |
| 2018 | 6% (1.25m) | 1st August 2018 |
| Tax Year | Telecommunication Levy |
|---|---|
| 2024 | 1% |
| 2023 | 1% |
| 2022 | 1% |
| 2021 | 1% |
| 2020 | 1% |
| 2019 | 1% |
| 2018 | 1% |
| Tax Year | SRT Rate | Effective Date |
|---|---|---|
| 2023 | 18% – 24% | Till 31st December 2023 |
| 2022 | 18% – 24% | 1st August 2022 |
| 2021 | 13% – 19% | |
| 2020 | 13% – 19% | |
| 2019 | 13% – 19% | 1st August 2019 |
| 2018 | 13% – 19% |
Last Updated - June 2, 2026