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    THE 10 BEST PLACES TO RETIRE IN 2024

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      Taxes in Singapore

      Important Information on Taxes in Singapore​

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          Singapore at night

          Important Information on Taxes in Singapore

          Simply put, Singapore’s tax revenue system comprises personal tax, corporate tax, Goods and Services tax, and property tax. In addition workers have a National Insurance deduction taken directly from their wages. This is used to fund Singapore’s public healthcare system.

          Lief Simon, Director of Overseas Property Alert, Founde of Simon Letter, and Founder, of Global Property Advisor

          Reviewed By Lief Simon

          Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

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            Singapore does not tax residents on foreign-earned income, though foreign-sourced dividends can be taxable if received in Singapore under certain conditions. Local-source dividends are exempt from taxes as long as the company already paid the reducible 17% corporate tax.

            Double Taxation avoidance treaties mean that companies taxed abroad are not liable to pay tax in Singapore.

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              The Double Taxation Avoidance (DTA) is an agreement with over 70 nations including most of the major players in Europe, Asia, and the Americas. This progressive agreement is another reason business and corporations are able to expand into Singapore.

              Property tax in Singapore ranges from 2% to 20%. Singapore does not tax corporations or individuals on capital gains, unless they are in the business of trading shares. The country imposes neither wealth nor inheritance tax. In addition there is no tax on income received from overseas sources.

              Stamp duties on real estate can be expensive, having been raised by the government in response to an overheating property market in 2009.

              Property taxes are assessed on a property’s gross annual rental value according to a progressive scale of 0% to 16% for owner-occupied dwellings, 10% to 20% for nonowner-occupied, and 10% for nonresidential properties.

              Singapore’s free-port status means that few items are assessed custom duty.

              Lief Simon, Director of Overseas Property Alert, Founde of Simon Letter, and Founder, of Global Property Advisor

              Reviewed By Lief Simon

              Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

              Start Your New Overseas Life Today

              A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2024






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                Be The First To Ask About Singapore

                Be The First To Ask About Taxes in Singapore

                Portugal is on the Iberian Peninsula, in the southwest corner of Europe. Portugal shares that peninsula Spain, its larger neighbor.

                Portugal is known for Fado music and also for being the largest cork producer in the world.

                Portugal’s high season is during July and August, especially to coastal areas. Expect to pay at least a 30% premium on accommodation and encounter warm weather across the country.

                Yes, Portugal is a sought after retirement destination. In fact, it’s one the world’s top retirement havens.

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