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 | | PROPERTY TAX | | | Foreigners owning a property in Singapore are liable to pay property tax, the same as Singapore citizens. Property tax is a tax on immovable properties. It is payable based on a percentage tax rate of the Annual Value (AV) of the property. The AV is determined by the Inland Revenue Authority of Singapore (IRAS) and is an estimated annual rent that a property can fetch if it was rented out (minus rent of furniture, fittings and service charges). | | | The current tax rate is 10% per annum for leased properties, and 4% per annum concessionary rate for owner-occupied residential property upon application to IRAS. If the property is used by the owner or on behalf of the owner, there are allowable expenses before tax. For details, please go to http://www.iras.gov.sg |
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