Singapore vs Hong Kong: Tax Comparison

Compare income tax rates and take-home pay between Singapore and Hong Kong

You'd keep $5,160 more in Hong Kong

Hong Kong

15.0% tax

Singapore

20.2% tax

$430/mo difference

Side-by-side breakdown

Hong Kong

2025/26

15%

Income

Gross Salary$100,000
Basic Personal Allowance-$16,870
Mandatory MPF Contributions-$2,300
Mandatory Provident Fund (MPF)-$2,300
Taxable Income$78,530

Taxes & Contributions

0 to HKD 50,000-$128
HKD 50,000 to HKD 100,000-$383
HKD 100,000 to HKD 150,000-$639
HKD 150,000 to HKD 200,000-$895
Over HKD 200,000-$9,005
Mandatory Provident Fund (MPF)-$2,300
Maximum Tax Cap-$1,657
Total Taxes-$15,007
NET ANNUAL PAY$84,993
Per Month$7,083
Effective Rate15.0%

Singapore

2025

20%

Income

Gross Salary$100,000
Earned income relief-$786
Central Provident Fund (CPF) - Employee-$15,091
Taxable Income$84,123

Taxes & Contributions

2% band-$157
3.5% band-$275
7% band-$2,201
11.5% band-$2,443
Central Provident Fund (CPF) - Employee-$15,091
Total Taxes-$20,167
NET ANNUAL PAY$79,833
Per Month$6,653
Effective Rate20.2%

Tax rate by income level

Hong Kong
Singapore

Understanding the difference

The Provident Fund Difference

Singapore's CPF is mandatory, deductible, and builds toward your retirement in full; Hong Kong's MPF caps contributions early and leaves more take-home pay but less forced savings. If you're disciplined, Hong Kong wins on cash flow; if you need the guardrails, Singapore's system does the work for you.

Where Rates Actually Flatten

Hong Kong's 15% tax cap is a hard ceiling that benefits high earners dramatically; Singapore's top rate climbs to 24% and keeps climbing. Above a certain income, Hong Kong becomes the obvious choice for maximizers.

Why People Choose Singapore

Singapore offers zero tax below SGD 20,000 (a genuine lower-income buffer) plus earned income relief, plus a safety net through CPF that doubles as healthcare and housing; Hong Kong taxes start earlier and leaves more burden on you to build your own nest egg. Singapore feels paternalistic by design; Hong Kong feels like it trusts you to fend for yourself.

The Expat Calculus

Both are non-resident-friendly and have no wealth or capital gains tax, but Singapore's system rewards staying and building roots through CPF compounding, while Hong Kong rewards earning aggressively and leaving. Your choice depends on whether you're settling down or passing through.

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