What Taxes Do I Have To Pay

Provided by EnterpriseOne

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: Income Tax for Sole-Proprietors
                Income Tax for Partnerships
                Income Tax for Companies

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 of 1% levied on certain items sold by tourist hotels, tourist food establishments
and tourist public houses.

• You 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

This article is a simplified write-up of taxation in Singapore and is not intended to replace
advice from a tax professional. You should speak to your accountant or contact the
Inland Revenue Authority of Singapore (IRAS) for more information.