Singapore: Taxes and Costs

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Rental income tax in Singapore is high

Effective Tax Rate on Rental Income
Monthly Income	US$1,500	US$6,000	US$12,000
Tax Rate	15.1%	15.1%	15.1%
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INDIVIDUAL TAXATION

Non-residents are liable to tax on their Singaporean-sourced income. Married couples are generally taxed jointly but a couple may elect separate taxation.

INCOME TAX

Rental income earned by non-residents is subject to the nonresident tax rate of 20%. The taxable income is computed by deducting property tax, insurance, maintenance and repairs from the gross rental income. Depreciation of the property is not deductible.

CAPITAL GAINS TAX

There is no capital gains tax in Singapore.

CORPORATE TAXATION

INCOME TAX

Companies in Singapore are subject to a flat withholding tax of 18% on chargeable income. Income-generating expenses are deductible from the gross income.

PROPERTY TAX

Property Tax

Property tax is based on a percentage of the annual value of the property, i.e., the estimated rent if rented out, with the landlord bearing all expenses. Since 01 July 2001, the property tax has been 10% of the annual value for all residential properties, except owner-occupied dwellings whose owners pay 4% of the annual value. Foreigners pay, in addition, a 10% surcharge.

Singapore - more data and information

• Guide to buying houses and registering property sales in Singapore

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