MX · AmericasSG · Asia
Mexico vs Singapore: tax rates compared
Mexico has an income tax rate of 35%, 11pp above Singapore's 24%. The 200-country average is 28%: Mexico sits above it, Singapore sits below it. Mexico's figure is dated 2025-01-01 and Singapore's 2026-04-27, so the two rates come from different data vintages.
Verified data covers five of the six tracked tax types for both countries; every rate below is cited to its source and dated.
At a glance
| Tax | MX | SG | Difference |
|---|---|---|---|
| Income Tax | 35% | 24% | MX +11 pp |
| Corporate Tax | 30% | 17% | MX +13 pplargest gap |
| VAT | 16% | 9% | MX +7 pp |
| Capital Gains Tax | 10% | 0% | MX +10 pp |
| Wealth Tax | 0% | 0% | match |
Income Tax
| Country | Rate | Source |
|---|---|---|
| Mexico | 35% | Source: OECD Tax Database — Top statutory personal income tax rates · as of 2025-01-01 |
| Singapore | 24% | Source: Inland Revenue Authority of Singapore (IRAS) — Individual Income Tax rates · as of 2026-04-27 |
| Difference | +11 pp | Mexico higher |
Corporate Tax
| Country | Rate | Source |
|---|---|---|
| Mexico | 30% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Singapore | 17% | Source: Tax Foundation — Worldwide Corporate Tax Rates · as of 2025-01-01 |
| Difference | +13 pp | Mexico higher |
Mexico has a corporate tax rate of 30%, 13pp above Singapore's 17%. The 201-country average is 22.6%: Mexico sits above it, Singapore sits below it.
VAT
| Country | Rate | Source |
|---|---|---|
| Mexico | 16% | Source: PWC Worldwide Tax Summaries — Mexico (Corporate, Other taxes) · as of 2026-02-24 |
| Singapore | 9% | Source: PWC Worldwide Tax Summaries — Singapore (Corporate, Other taxes) · as of 2026-07-02 |
| Difference | +7 pp | Mexico higher |
Mexico has a VAT rate of 16%, 7pp above Singapore's 9%. The 181-country average is 15%: Mexico sits above it, Singapore sits below it.
Capital Gains Tax
| Country | Rate | Source |
|---|---|---|
| Mexico | 10% | Source: PwC Worldwide Tax Summaries — Mexico (Individual, Income determination) · as of 2026-01-30 |
| Singapore | 0% | Source: PWC Worldwide Tax Summaries — Singapore (Individual, Other taxes) · as of 2026-07-02 |
| Difference | +10 pp | Mexico higher |
Mexico has a capital gains tax rate of 10%, 10pp above Singapore's 0%. The 175-country average is 10.3%: both sit below it.
Wealth Tax
| Country | Rate | Source |
|---|---|---|
| Mexico | 0% | Source: PWC Worldwide Tax Summaries — Net wealth/worth tax rates (quick chart) · as of 2026-02-24 |
| Singapore | 0% | Source: PWC Worldwide Tax Summaries — Singapore (Individual, Other taxes) · as of 2026-07-02 |
| Difference | 0 pp | displayed rates match |
Mexico and Singapore share the same wealth tax rate: 0%. The 193-country average is 0.1%: both sit below it.
Not covered for both countries yet: Crypto Tax.