Customs Duty Calculator

Taxes in Singapore

Below are different types of taxes in Singapore.

  • Income Tax: Income tax is chargeable on income of individuals and companies.
  • Property Tax: Property tax is imposed on owners of properties based on the expected rental values of the properties.
  • Estate Duty: Estate duty is levied on the value of a deceased’s net assets in excess of a threshold amount.
  • Motor Vehicle Taxes: These are taxes, other than import duties, that are imposed on motor vehicles. These taxes are imposed to curb car ownership and road congestion.
  • Customs & Excise Duties: Singapore is a free port and has relatively few excise and import duties. Excise duties are imposed principally on tobacco, petroleum products and liquors. Also, very few products are subject to import duties. The duties are mainly on motor vehicles, tobacco, liquor and petroleum products.
  • Goods & Services Tax: GST is a tax on consumption. The tax is paid when money is spent on goods or services, including imports.
  • Betting Taxes and Sweepstake Duties: These are duties on private lottery, betting & sweepstake. Generally, the following betting activities are subject to duty in Singapore:
    • Totalisator or pari-mutuel betting (e.g. Toto, horse racing)
    • Sports betting (e.g. football betting)
    • Sweepstakes
    • Any other system or method of cash or credit betting held, promoted, organised, administered or operated by an exempt organisation in the Betting and Sweepstake Duties Order
  • Casino Tax: In Singapore, casinos operated by the Marina Bay Sands and Resorts World Sentosa have to pay the casino tax levied on the casinos’ gross gaming revenue.
  • Stamp Duties: Stamp Duty is a tax on documents relating to immovable properties, stocks or shares. Examples of such documents are lease/tenancy agreements, mortgages, and share transfer documents. Once the document is signed and dated, the duty needs to be paid, which can be done easily using IRAS’ e-Stamping system. Do note that it’s an offence in Singapore to use a document without paying the stamp duty and attracts a penalty of up to four times the original stamp duty.
  • Withholding Tax: A non-resident must pay income tax on his income that has source in Singapore. Under Withhold Tax law, an individual has the legal obligation to hold back a percentage of the payment he makes.
  • Others: These include the foreign worker levy, annual tonnage tax, water conservation tax and development charge.