Personal Taxation

In general, individuals are liable to Singapore income tax only on income accruing in or derived from Singapore.

Various categories of personal investment income from qualifying unit trusts, real estate investment trusts, bonds and bank deposits are exempt from tax.

Under the law, an individual’s business income is determined in the same way and subject to the same deductions as a corporation. However, it is usually more difficult for an individual to claim certain business deductions.

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