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Singapore income tax: 13-band system with a top rate of 24%
The Income Tax applies a 13-band progressive structure. The entry rate of 2% applies to income up to S$30.000. The top rate of 24% applies above S$1.000.001.
Source: Singapore Income Tax official rates 2026
Corporate Tax: effective rate of 17% for 2026
The Corporate Tax applies at 17%.
Source: Singapore Corporate Tax official rates 2026
Statutory minimum wage of S$1.400/month - the mandatory floor for Singapore
The Singapore statutory minimum wage is S$1.400 gross per month (S$16.800 annually). This is the mandatory minimum for employees and forms the baseline for salary planning and household income benchmarking in Singapore.
Source: Singapore labour authority
2025 inflation at 0,9% - the key index for Singapore wage and cost planning
SingStat / MAS / MTI - Singapore CPI 2025 recorded 0,9% annual CPI inflation in 2025. This figure is directly relevant for Singapore wage negotiation benchmarks, benefit indexation and cost-of-living planning in 2026. Salary increases below 0,9% represent a real-terms pay reduction. Household budgeting for rent, food and utilities should account for the cumulative effect of recent inflation across 4 years.
Source: SingStat / MAS / MTI - Singapore CPI 2025
Singapore Income Tax Rates by Band 2026 (%)
Singapore tax authority
Singapore Corporate Tax Rates 2026 (%)
Corporate Tax
📋 Reference Data
Singapore 2026 Income Tax Bands (Income Tax)
Singapore tax authority - official 2026 rates
| Band | Taxable income range | Rate | Applies to |
|---|---|---|---|
| Tax-free zone | S$0 - S$20.000 | 0% | Tax-free zone |
| Income tax band 1 | S$20.001 - S$30.000 | 2% | All taxpayers within this income range |
| Income tax band 2 | S$30.001 - S$40.000 | 3,5% | All taxpayers within this income range |
| Income tax band 3 | S$40.001 - S$80.000 | 7% | All taxpayers within this income range |
| Income tax band 4 | S$80.001 - S$120.000 | 11,5% | All taxpayers within this income range |
| Income tax band 5 | S$120.001 - S$160.000 | 15% | All taxpayers within this income range |
| Income tax band 6 | S$160.001 - S$200.000 | 18% | All taxpayers within this income range |
| Income tax band 7 | S$200.001 - S$240.000 | 19% | All taxpayers within this income range |
| Income tax band 8 | S$240.001 - S$280.000 | 19,5% | All taxpayers within this income range |
| Income tax band 9 | S$280.001 - S$320.000 | 20% | All taxpayers within this income range |
| Income tax band 10 | S$320.001 - S$500.000 | 22% | All taxpayers within this income range |
| Income tax band 11 | S$500.001 - S$1.000.000 | 23% | All taxpayers within this income range |
| Income tax top rate | Above S$1.000.001 | 24% | All taxpayers within this income range |
ⓘ Marginal rates shown. Effective rates are lower due to credits and deductions.
Singapore 2026 Corporate Tax Rates (Corporate Tax)
Singapore tax authority - official 2026 corporate tax rates
| Rate type | Profit range | Rate | Tax name |
|---|---|---|---|
| Headline corporate tax rate | All taxable profit | 17% | Corporate Tax |
ⓘ Rates apply to qualifying Singapore corporate entities.
Singapore 2026 Complete Tax & Benefit Reference
Compiled from official Singapore government and statistical sources
| Metric | Value | Institution | Confidence |
|---|---|---|---|
| Personal allowance / tax-free amount | S$20.000 | Singapore tax authority | Official |
| Income tax band 1 | 2% | IRAS - Individual Income Tax Rates | Official |
| Income tax band 2 | 3,5% | IRAS - Individual Income Tax Rates | Official |
| Income tax band 3 | 7% | IRAS - Individual Income Tax Rates | Official |
| Income tax band 4 | 11,5% | IRAS - Individual Income Tax Rates | Official |
| Income tax band 5 | 15% | IRAS - Individual Income Tax Rates | Official |
| Income tax band 6 | 18% | IRAS - Individual Income Tax Rates | Official |
| Income tax band 7 | 19% | IRAS - Individual Income Tax Rates | Official |
| Income tax band 8 | 19,5% | IRAS - Individual Income Tax Rates | Official |
| Income tax band 9 | 20% | IRAS - Individual Income Tax Rates | Official |
| Income tax band 10 | 22% | IRAS - Individual Income Tax Rates | Official |
| Income tax band 11 | 23% | IRAS - Individual Income Tax Rates | Official |
| Income tax top rate | 24% | IRAS - Individual Income Tax Rates | Official |
| Corporate tax main rate | 17% | Corporate Tax | Official |
| Statutory minimum wage (monthly) | S$1.400 | Singapore labour authority | Official |
| Inflation 2025 | 0,9% | SingStat / MAS / MTI - Singapore CPI 2025 | Official |
ⓘ All figures are sourced from the responsible Singapore institution for the 2026 rule year.
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🔬 Methodology & Sources
Data Sources and Verification
All figures on this page are sourced directly from the responsible Singapore government institutions for the 2026 rule year. Income tax rates are taken from the official tax authority publications. Corporate tax rates are sourced from the relevant business tax authority. Minimum wage figures are from the government ministry responsible for labour law. Inflation data is from the national statistics institute. All values are cross-referenced against official published rates and verified as of the retrieval date shown in the sources section.
Formula
Effective income tax = sum_of(income_in_band × band_rate) - tax_credits | Corporate tax = sum_of(profit_in_band × band_rate)
CitationInland Revenue Authority of Singapore (IRAS); CPF Board; Ministry of Manpower (MOM); Ministry of Social and Family Development (MSF); Department of Statistics Singapore. Retrieved 2026.
❓ Frequently Asked Questions
In 2026, the Income Tax applies a 13-band progressive structure. The entry rate of 2% applies to the first taxable band up to S$30.000. The top rate of 24% applies to income above S$1.000.001. For exact take-home calculations, use the dedicated Singapore net salary calculator.
The Corporate Tax applies at 17%.
The statutory minimum wage in Singapore is S$1.400 gross per month (S$16.800 annually), set by Singapore labour authority. Self-employed and ZZP-style contractors are typically not covered by minimum wage legislation - it applies to employees under an employment contract.
SingStat / MAS / MTI - Singapore CPI 2025 recorded 0,9% annual CPI inflation in 2025. For Singapore employees, this means that salary increases below 0,9% represent a real-terms pay reduction in purchasing power. Collective agreements, benefit indexation, rent escalation clauses and cost-of-living modelling for 2026 should all reference this figure. Cumulative inflation since 2021 has been more substantial - approximately 3,6% over four years using this rate as a proxy.
This 2026 Singapore tax reference covers income tax bands, corporate tax rates, minimum wage and inflation from official sources. These are the headline figures used for salary planning, founder structuring and business cost modelling in Singapore. Use the tables on this page for exact rates and thresholds.
The marginal rate is the rate applied to the next euro of taxable income - in Singapore, this is 24% at the top. The effective rate is the average across all income: for a Singapore resident earning an average salary gross annually, the effective income tax rate is substantially lower than 24% because most of the income falls in lower bands. Tax credits and deductions reduce the effective rate further.
Self-employed individuals in Singapore are generally subject to Income Tax on their business profit under the income tax system. Unlike employees, self-employed workers are responsible for their own social security contributions. The Income Tax bands of 2% to 24% apply to net business income after allowable deductions. Many self-employed individuals in Singapore operate through a corporate structure to benefit from the lower Corporate Tax rate of 17%.
Companies subject to Corporate Tax in Singapore pay tax at 17%. Small and medium companies should work with a qualified accountant to ensure all available deductions, allowances and reliefs are applied correctly.
The figures shown are based on official publications from the responsible Singapore government institutions: Inland Revenue Authority of Singapore (IRAS), CPF Board, Ministry of Manpower (MOM). All values reflect the 2026 rule year. This page is for informational purposes - personalised tax outcomes depend on individual income, deductions, household structure and business circumstances. Always consult a qualified Singapore tax adviser for personal advice.
Sources & References
Data sourced from official institutional publications. Results are for informational purposes only. Last reviewed Jun 2026.
Data Disclaimer
This page is for informational purposes only. Actual tax outcomes depend on personal income, household composition, available deductions, eligibility for allowances and official assessment rules. Always consult a qualified Singapore tax adviser for personalised advice.
This page is for informational purposes only. Actual tax outcomes depend on personal income, household composition, available deductions, eligibility for allowances and official assessment rules. Always consult a qualified Singapore tax adviser for personalised advice.