Singapore vs Hong Kong: Tax Comparison
Compare income tax rates and take-home pay between Singapore and Hong Kong
You'd keep $7,254 more in Hong Kong
Hong Kong
13.7% tax
Singapore
21.0% tax
$605/mo difference
Side-by-side breakdown
Hong Kong
2025-26
Income
Taxes & Contributions
Singapore
2025
Income
Taxes & Contributions
Tax rate by income level
Understanding the difference
CPF vs MPF Philosophy
Singapore forces you to save 20% of your salary into CPF; it's aggressive but the money is yours, and you'll likely draw on it in retirement. Hong Kong's MPF is gentler (5% above a threshold) and feels more like a traditional pension, but you have less control over the pot.
Low earners win Singapore
Singapore's first SGD 20,000 is tax-free and CPF kicks in on everything. Hong Kong's generous allowance (HKD 132,000) means lower earners often pay nothing, but they're also not forced to save anything.
The security trade-off
Singapore's dual tax-and-savings bite feels heavier upfront, but you're building a personal nest egg while the government stays out of your healthcare and social safety net. Hong Kong taxes less overall but offers less insurance against life's disruptions, which matters if you're staying long-term.
High earners pick Hong Kong
Above HKD 200,000, Hong Kong's top rate (17%) is a bargain compared to Singapore's 24%. For expat executives, the city wins on tax efficiency, though you'll feel CPF's 20% pinch acutely if you're Singapore-based.
Related comparisons
Detailed country guides
Compare all 140+ countries
See how Singapore and Hong Kong rank globally