Increase in top marginal rates & updates to foreign workforce policies

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Panneer Selvam
7 Apr 2022
Subject Tax alert
Categories Mobility Tax and Immigration
Jurisdictions Singapore

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This alert discusses the increase in top marginal personal income tax rates and updates to foreign workforce policies.

On 18 February 2022, the Minister for Finance delivered the annual Budget Statement to the Parliament, which included several key tax-related announcements.

Among the announced measures were changes to the tax brackets for individuals, including two new income bracket tiers and an increase to the top marginal personal income tax rate. Additionally, updates to the foreign workforce policies were also announced.

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