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.
Property tax
Property tax is imposed at 10% on the annual value of commercial and industrial (non-residential) properties.
On non-owner occupied residential properties and owner-occupied residential properties, multi-tier progressive tax rates will apply. The annual property tax is then calculated by multiplying the annual value of the property with the applicable Property Tax Rates. For non-owner occupied residential property, a specific exclusion list exists for properties holding planning approval for the specific use of the property. A flat 10% rate will also apply. The exclusion list includes hospitals, hotels, serviced apartments, etc.
Owner-Occupied Residential Property | |
Annual Value (SGD) | Progressive Tax Rates |
First $8,000 | 0% |
Next $22,000 | 4% |
Next $10,000 | 5% |
Next $15,000 | 7% |
Next $15,000 | 10% |
Next $15,000 | 14% |
Next $15,000 | 18% |
Above $100,000 | 23% |
Non- Owner Occupied Residential Property | |
Annual Value (SGD) | Progressive Tax Rates |
First $30,000 | 11% |
Next $15,000 | 16% |
Next $15,000 | 21% |
Above $60,000 | 27% |
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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.
Our experts
Elaine Chow Partner, Tax
