Taxation in Singapore: Types of Taxes, Rates and Statutory Levies

1. Personal Income Tax

Individual income tax applies to taxable income under the Income Tax Act 1947. Tax residency, the source and nature of income, available exemptions and reliefs determine the final liability. Singapore tax residents generally pay progressive rates, with a top marginal resident rate of 24% from Year of Assessment (YA) 2024. Non-resident employment income is generally taxed at 15% or the applicable resident progressive rates, whichever produces the higher tax, subject to the relevant rules; other non-resident income can be subject to different rates.

Employment, trade, professional and rental income may be taxable. Individuals should check residency tests, filing requirements and applicable reliefs directly with the Inland Revenue Authority of Singapore (IRAS).

2. Corporate Income Tax

Companies are generally subject to a 17% corporate income tax rate on chargeable income, before applicable exemptions, rebates and incentives. The Income Tax Act 1947 governs the tax treatment of Singapore-sourced income and foreign-sourced income received in Singapore, subject to statutory exemptions and other conditions. Qualifying start-up companies and other companies may benefit from partial tax exemptions, while specific sectors may qualify for approved incentives.

Companies should verify their estimated chargeable income and annual corporate tax return obligations on the IRAS corporate income tax portal.

3. Property Tax

Property tax is an annual tax on the ownership of immovable property, governed by the Property Tax Act 1960. It is generally calculated using a property's Annual Value (AV), broadly its estimated annual market rent, rather than the actual rental income received. Different progressive schedules apply to owner-occupied residential property and non-owner-occupied residential property; non-residential property is generally taxed at 10% of AV.

Owners can check the latest valuation and rates through IRAS property tax guidance.

4. Estate Duty

Estate duty was abolished for deaths occurring on or after 15 February 2008. Historic estates involving earlier deaths may require separate examination. See the IRAS estate duty information.

5. Taxes and Charges on Motor Vehicles

Singapore uses vehicle-related taxes and charges to manage vehicle ownership and road usage. These can include an Additional Registration Fee (ARF), road tax and, where applicable, excise duty and Goods and Services Tax on imported vehicles. A Certificate of Entitlement (COE) is required for registration of most vehicles; the COE premium is a vehicle ownership control mechanism, not simply an import tax.

Registration fees, emissions-related schemes and road tax vary by vehicle type and specifications. Consult the Land Transport Authority's OneMotoring portal.

6. Customs and Excise Duties

Singapore is a major trading hub and generally imposes customs or excise duty on a limited range of dutiable goods. Principal categories include intoxicating liquors, tobacco products, motor vehicles and petroleum products or biodiesel blends. The duty type, rate and calculation method depend on the goods and applicable classification.

Imports can also attract GST even where customs duty does not apply, unless a relief, suspension or exemption is available. See Singapore Customs and the Customs Act 1960.

7. Goods and Services Tax (GST)

GST is a broad-based consumption tax on most supplies of goods and services in Singapore and on imported goods, with specific rules for imported services. The standard GST rate is 9% from 1 January 2024. Certain supplies are zero-rated, including qualifying exports and international services; specified financial services and sales or leases of residential property may be exempt.

Businesses must assess GST registration requirements, including the general S$1 million taxable turnover threshold and the rules for overseas suppliers. Registered businesses ordinarily charge and account for GST and may claim eligible input tax, subject to statutory conditions. Read the IRAS GST guide and Goods and Services Tax Act 1993.

8. Betting and Gambling Taxes

Singapore taxes specified betting and gambling activities under the relevant legislation, including the Betting Act 1960 and Private Lotteries Act 1950. Applicable treatment depends on the activity, operator and current statutory framework. Betting duties should not be confused with personal income tax on ordinary recreational winnings.

For regulatory requirements, see the Gambling Regulatory Authority; for tax administration, see IRAS.

9. Stamp Duty

Stamp duty is imposed on specified instruments and transactions, particularly transfers and leases of immovable property and transfers of shares, under the Stamp Duties Act 1929. Depending on the transaction, Buyer's Stamp Duty (BSD), Additional Buyer's Stamp Duty (ABSD), Seller's Stamp Duty (SSD) or share transfer duty may apply.

Rates, exemptions, remission conditions and payment deadlines vary. Review the IRAS stamp duty guidance before executing or completing a relevant transaction.

10. Other Statutory Levies and Passenger Charges

Foreign Worker Levy

Employers of certain Work Permit and S Pass holders must pay a monthly foreign worker levy. The levy helps regulate foreign manpower and varies with factors such as sector, worker category and applicable workforce criteria. It is an employment-related statutory levy, not personal income tax. See the Ministry of Manpower's levy guidance.

Airport Passenger Charges

Passengers departing from or transiting through Singapore airports may pay applicable passenger service, security and aviation-related charges, depending on itinerary and exemptions. These are aviation charges rather than a general income or property tax. For current Changi Airport charges, consult Changi Airport and the Civil Aviation Authority of Singapore.

How to Check Your Singapore Tax Obligations

Determine whether the liability arises from personal income, company profits, property ownership, a transaction, consumption, importation or employment. Next, verify the relevant tax period, registration requirements, statutory rates, exemptions and filing deadlines with the administering authority.

Important: This article is general information, not tax or legal advice. Tax legislation, rates and concessions may change, and individual circumstances affect liability. Official guidance and the current legislation should be checked before making decisions.