Compare taxes and see how much you save moving from Japan to Singapore
Japan and Singapore represent the sharpest tax contrast in Asia: Japan's 55% combined top rate (45% national + 10% local inhabitants tax) versus Singapore's 24% top rate — a 31-percentage-point difference. Japan taxes residents on worldwide income; Singapore taxes only Singapore-sourced income (territorial system). Singapore has no capital gains tax, no inheritance tax, and no wealth tax. Japan has a 20.315% CGT (with NISA exception), a significant inheritance tax (up to 55%), and the Japan exit tax: residents departing Japan with financial assets of ¥100,000,000 (approximately US$650,000) or more face a deemed CGT on all unrealised gains in their portfolio at the time of departure. Japan's 5-year rule means most foreign nationals are not subject to Japan's worldwide taxation until they have been resident for more than 5 years. Singapore's CPF (Central Provident Fund) is one of Asia's most robust mandatory pension systems, though it is only mandatory for Singapore citizens and permanent residents.
Combined Top Rate
National 45% + local inhabitants tax 10%
Top Rate
Territorial system, no CGT, no inheritance tax
At ¥10,000,000 income:
That is ¥108,333/month back in your pocket!
| Income | JP Tax | SG Tax | Savings | 10-Year |
|---|---|---|---|---|
| ¥5,000,000 | ¥800,000 | ¥450,000 | ¥350,000 | ¥3,500,000 |
| ¥10,000,000 | ¥2,800,000 | ¥1,500,000 | ¥1,300,000 | ¥13,000,000 |
| ¥20,000,000 | ¥7,400,000 | ¥3,700,000 | ¥3,700,000 | ¥37,000,000 |
| ¥50,000,000 | ¥24,000,000 | ¥10,000,000 | ¥14,000,000 | ¥140,000,000 |
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Japan Exit Tax & Singapore Arrival Tax Help →Japan's exit tax (国外転出時課税 — kokugai tenshutsushi kazei, enacted 2015) applies to individuals departing Japan with financial assets worth ¥100,000,000 (approximately USD 650,000 / SGD 880,000) or more. When triggered: (1) All unrealised capital gains in the individual's financial assets (stocks, bonds, investment trusts, foreign currency deposits, rights to acquire shares) are deemed realised at the time of departure. (2) The gain is subject to Japanese income tax at 20.315% (15% national + 5% local, plus 0.315% recovery income surtax). Example: departing Japan with a ¥200M investment portfolio with ¥80M in unrealised gains: exit tax = ¥80M × 20.315% = ¥16,252,000. Planning: the ¥100M threshold is assessed on total financial assets, not just gains. However: individuals moving to countries with Japan double tax treaties (including Singapore — Japan-Singapore DTA) may apply for a 5-year deferral of exit tax if security is posted. If the assets are sold within 5 years of departure and the gains are taxed in the destination country, Japan gives relief. The exit tax catches many Japanese nationals who have built wealth over decades and plan to retire to Singapore or other low-tax Asian countries.
CPF (Central Provident Fund) is Singapore's mandatory defined contribution pension system. Applies to: Singapore citizens and permanent residents (PRs) only — foreigners on Employment Pass or S Pass are exempt. Contribution rates (2026, employees aged under 55): Employee: 20% of monthly wages. Employer: 17% of monthly wages. Total: 37%. CPF has three accounts: Ordinary Account (housing, education, investment — 2.5% interest), Special Account (retirement — 4%+ interest), MediSave Account (healthcare — 4%+ interest). Retirement Sum Scheme: on reaching 55, amounts above the Basic Retirement Sum are payable; at 65, monthly CPF LIFE payouts begin. Japan's nenkin (年金 — national pension system): Kokumin Nenkin (National Pension): ¥16,980/month contribution (2026) — flat rate for all residents 20–60. Kosei Nenkin (Employee's Pension): additional contribution for employed persons — employer + employee split, income-based. Payout: approximately ¥65,000–¥230,000/month from age 65 depending on contribution record. Key difference: CPF is a defined contribution system with individual accounts; Japan's nenkin is primarily a defined benefit PAYG (pay-as-you-go) system. CPF rates (37%) are significantly higher than nenkin contributions, but CPF builds a personal pot of savings.
Largely yes, with key nuances. Singapore does not tax: capital gains from sale of shares, property, or most financial assets; dividends from Singapore companies (one-tier tax system — no further tax on dividends); foreign-source dividends and interest not remitted to Singapore; inheritance (no estate duty since 2008). Singapore does tax: Singapore-source employment income (up to 24%); rental income from Singapore property; business profits from Singapore-based business operations; foreign income remitted to Singapore by companies (in some circumstances). For a high-net-worth individual resident in Singapore with a large investment portfolio: the effective tax rate on investment returns can be 0% if the portfolio is held offshore and gains/dividends are kept offshore. This contrasts sharply with Japan's 20.315% CGT and up to 55% on dividends as part of ordinary income. The remittance basis means careful cash management is needed — income remitted to Singapore for living expenses can be structured to come from capital rather than income in some cases. Note: Singapore's 9% GST on goods and services is a consumption tax, not an income or investment tax — it does not affect investment returns directly.
For a Japanese national or long-term Japan resident departing for Singapore: (1) Exit tax assessment: determine total financial asset value. If below ¥100M: no exit tax. If above: calculate unrealised gains; consider selling and crystallising gains before departure (paying 20.315% now, locking in the Japan holding period); or apply for 5-year deferral under the Japan-Singapore DTA if security can be posted. (2) Japanese tax residency cutoff: Japanese income tax applies to income earned until the day of departure (jushomin票 — jūmin-hyo residence registration cancellation). Municipal (inhabitants) tax: billed in the year after departure for the prior year's income — a final inhabitants tax bill arrives from the former municipality. (3) NISA accounts: NISA accounts must be closed or transferred on departure from Japan — cannot be maintained as a non-resident. Unrealised gains inside NISA are exempt from exit tax (NISA gains are already tax-exempt). (4) iDeCo: on departure, iDeCo contributions cease; the account can be maintained as a deferred pension or commuted. (5) Singapore arrival: no special regime for Japanese arrivals in Singapore. Employment Pass or EntrePass required for employment. CPF: not applicable unless you obtain Singapore PR. Employment income taxed from day 1 in Singapore at resident rates (if staying >183 days — otherwise non-resident 15% flat rate).