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Tax & GST

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What Taxes Do I Have To Pay?

Income Tax

  • All businesses, whether you are a sole-proprietor, partnership or company, must pay taxes on income that is derived or received in Singapore.

  • How much you pay and when you pay depends on the type of business structure.

See:

Withholding Tax

  • When you make payment to a non-resident, you must withhold a certain percentage of that payment as "withholding tax".

  • The withholding tax must then be paid to the Inland Revenue Authority of Singapore (IRAS).

See:  Withholding Tax


Goods And Services Tax (GST)

  • You have to pay GST when you buy goods and services from GST-registered businesses. You also have to pay GST on imports to Singapore Customs.

  • The current GST rate is 7%.

See: Goods And Services Tax (GST)


Cess

  • Cess is a tax levied on certain items sold by tourist hotels, tourist food establishments and tourist public houses.

  • With effect from 1 July 2007, you do not have to pay Cess when you purchase goods or services from these tourist establishments.

See: Cess


Property Tax

  • You have to pay property tax if you or your business owns property.

  • All types of properties including HDB flats, factories, offices and vacant land are subject to tax.

  • The current annual tax rate is 10%.

See: Property Tax


Stamp Duty

  • Stamp duty is actually a tax on commercial and legal documents. By stamping your documents, and paying the tax, your transaction is recorded and "recognised".

  • Stamp duty is only payable on documents relating to immovable property, stocks and shares.

See: Stamp Duty