Singapore Budget 2015: Top marginal tax rate for higher income-earners to be raised to 22 per cent
PUBLISHED ONFebruary 23, 2015 10:30 AM
THE government is raising the marginal tax rates that affect the top 5 per cent of Singapore's income-earners, said Deputy Prime Minister and Finance Minister Tharman Shanmugaratnam on Monday.
The top marginal rate will go up to 22 per cent, from the current 20 per cent, for the highest income-earners with a chargeable income above S$320,000. There will also be smaller adjustments made to raise income tax for the others in the top 5 per cent bracket.
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