Property buyers are liable to pay property tax and stamp duties when buying and owning any property.
The annual property tax is a regulated percentage of the annual value of a property in Singapore. It applies to the owner of any property, even if it is being rented out or left vacant. However, if you own and occupy the residence, you are eligible for lower property tax rates.
Read more about Singapore property tax at:IRAS PROPERTY TAX
For information on other tax matters, please visit:Iras Main
Stamp duty is a tax on dutiable documents relating to any property in Singapore. There are three types of duties payable on the sale, purchase, acquisition or disposal of properties in Singapore:
Buyers are required to pay stamp duty on documents executed for the sale and purchase of any property. The stamp duty is computed on the purchase price or market value of the property, whichever is higher.
As of 7 December 2011, certain groups of people who buy or acquire residential properties, including residential land, are required to pay an additional buyer’s stamp duty.
People who buy or acquire residential properties, then sell or dispose of them within the regulated number of years, are required to pay stamp duty.
For information about stamp duties, please visit:IRAS STAMP DUTY