Singapore IRAS Foreign Tax Credit Calculator 2026

Calculate your Foreign Tax Credit (FTC) to offset foreign taxes against Singapore tax. FTC = min(foreign tax paid, Singapore tax on same income). Source: iras.gov.sg.

Convert foreign currency to SGD at remittance date
Tax withheld or paid in the foreign country
2026 rates: 0%–24% depending on income band
Treaty may allow lower withholding rates
Foreign Tax Credit (FTC)
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Allowable credit against your SG tax liability
SG Tax on Foreign Income
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Foreign Tax Paid
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FTC Allowed
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Excess Foreign Tax (No Refund)
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Net SG Tax After FTC
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Effective Tax Rate
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What Is Singapore's Foreign Tax Credit (FTC)?

Singapore's Foreign Tax Credit system prevents double taxation for Singapore tax residents who earn income overseas. Under Section 50A of the Income Tax Act, individuals can offset foreign taxes paid against the Singapore tax liability on the same income. The FTC is calculated as the lower of: (1) the foreign tax paid, or (2) the Singapore tax attributable to the foreign income. Any excess foreign tax beyond the Singapore liability is not refunded — it is simply not claimable. Source: iras.gov.sg. Last updated: May 2026.

FTC Formula and 2026 Singapore Tax Rates

FTC = min(Foreign Tax Paid, SG Marginal Rate × Foreign Income). Singapore's 2026 personal income tax rates range from 0% (first S$20,000) to 24% (income above S$1,000,000). The key marginal bands are: 15% at S$120k–S$160k, 18% at S$160k–S$200k, 19% at S$200k–S$240k, 22% at S$240k–S$320k, and 24% above S$500k. For most expats with foreign employment income, the applicable marginal rate is 22%–24%. Always use your actual marginal rate, not average rate, for FTC calculation.

FTC vs Section 13(8) Exemption

Singapore offers two routes to avoid double taxation: (1) FTC under Section 50A — credit the foreign tax against SG liability, and (2) Section 13(8) exemption — foreign-sourced dividends, branch profits, and service income may be exempt from Singapore tax entirely if they were taxed at 15%+ overseas. Section 13(8) is often more advantageous as it eliminates SG tax entirely rather than just offsetting it. Consult a Singapore tax advisor to determine which route applies to your specific income type and tax treaty situation. Source: iras.gov.sg.