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Singapore GST and Other Taxes

Singapore GST, Goods and Services Tax

GST is a consumption tax similar to VAT in other countries.
The GST is imposed on import of goods and supply of goods and services in Singapore.
The standard GST rate in Singapore is 7%. Exports of goods or supply of international services are zero rated. Financial services including bank and insurance services are exempted from GST.
The threshold for GST registration is an annual turnover exceeding SGD 1 million.
GST reports are filed on a quarterly basis.

Singapore Real Estate Property Tax

The tax is imposed on owners of land and buildings in Singapore.
The 0%-20% tax rate is imposed on the assessable value of the property.

The rates for private residential property are :
  • Non owner property-10%-20%.
  • Owner property- 0%-16%.

Singapore Stamp Duty

Stamp duty is imposed on documents relating to real estate and shares as described in the Stamp Duty Law.
Buyer's stamp duty ranges from 1% to 3% on purchase of property. Seller's stamp duty ranges from 4% to 16%.

Singapore Real Estate Transfer Tax
There is no real estate transfer tax in Singapore.

Singapore Inheritance and Gift Tax
There are no inheritance and gift taxes in Singapore.

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