Other Indirect Taxes
Other indirect taxes are not significant except for excise duties mainly on tobacco and liquor, betting duties and various duties related to vehicle ownership.
Stamp Duty
Stamp duty is a tax on executed documents relating to properties, interest in properties and shares or interest in shares. No stamp duty is payable if the agreement is verbal and no document is executed (signed) for that agreement.
With effect from 20 February 2018, there are differentiated Buyer Stamp Duty's (BSD) rates between residential and non-residential properties. The BSD rate for acquisition of residential properties from 20 February 2018 to 14 February 2023 is up to 4%.
From 15 February 2023, the top marginal rate for residential properties is 6%, and the top marginal rate for non-residential properties is 5%.
Click here to download the Doing Business in Singapore 2023 guide
Property tax
Property tax is imposed at 10% on the annual value of commercial and industrial (non-residential) properties.
Our experts
Elaine Chow Partner, Tax
