Property tax

Property tax is a tax levied on property ownership. The annual tax payable is a percentage of the annual value of the property, which is the gross amount for which the property is expected to be let out in that year.

 

Non residential properties

The property tax rate on commercial and industrial buildings is 10% of the annual value.

Residential properties

For owner-occupied residential properties (from 1 January 2015)

Annual Value (AV) - Tax rate

  • First $8,000 - 0%
  • Next $47,000 - 4%
  • Next $15,000 - 6%
  • Next $15,000 - 8%
  • Next $15,000 - 10%
  • Next $15,000 - 12%
  • Next $15,000 - 14%
  • AV above $130,000 - 16%
For non-owner occupied residential properties (from 1 January 2015)

Annual Value (AV) - Tax rate

  • First $30,000 - 10%
  • Next $15,000 - 12%
  • Next $15,000 - 14%
  • Next $15,000 - 16%
  • Next $15,000 - 18%
  • AV above $90,000 - 20%

Stamp duty

Stamp duty is computed based on the consideration payable for the asset transferred or its market value, whichever is higher.

Deadline for Stamp Duty

To be stamped and paid within 14 days from date of execution of the relevant document if signed in Singapore, or 30 days from receipt of the document in Singapore, if signed overseas

Buyer’s stamp duty

Buyer's stamp duty

for all Singapore real estate

  • First $180,000 - 1%
  • Next $180,000 - 2%
  • Next $640,000 - 3%
  • Amount exceeding $1,000,000 - 4%

 

Additional buyer's stamp duty

for residential property from 16 December 2021

  • Foreigners buying any residential property - 30%
  • Entities buying any residential property or transfer of residential property into a living trust - 35% (may be reduced)
    (additional 5% for Housing developers)
  • Singapore permanent residents buying a first residential property - 5%
  • Singapore permanent residents buying a second residential property - 25%
  • Singapore permanent residents buying a third and subsequent residential property - 30%
  • Singapore citizens buying a second residential property - 17%
  • Singapore citizens buying a third and subsequent residential property - 25%
Seller’s stamp duty

Residential properties / Industrial properties

  • Property disposed of within one year of purchase - 12% / 15%
  • Property disposed of within more than one year and up to two years of purchase - 8% / 10%
  • Property disposed of within more than two years and up to three years
  • of purchase - 4% / 5%

 

Stamp Duty on transfer of shares

(other than a residential Property- Holding Entity (PHE))

0.2% - Higher of purchase price or market value of the shares

Additional Conveyance Duties apply for acquisition (41% to 44%) and disposal (12%) of equity interest of PHE.

 

Singapore’s excellent strategic location and globalised economy make it an attractive business hub for organisations looking to build their presence in Southeast Asia and Asia-Pacific.

If you are planning on doing business in Singapore, knowledge of the investment environment and information on legal, accounting and taxation framework are essential to keep you on the right track.

This guide will provide you with insights into the key aspects of investing and undertaking business in Singapore. It makes reference to some of the most common issues companies might face when expanding into the city-state.

Keep up to date with the latest news

Subscribe for timely technical updates and keep on the pulse with industry developments

Related articles

View more