How much does Singapore property tax pay every year?

Different annual values have different property taxes.

Houses with an annual value of less than S $6,000 are exempt from property tax; If the annual value is between S $6,000 and S $24,000, only 4% tax will be levied on the higher part; For houses with an annual value of more than S $24,000, 6% property tax will be paid for the excess.

One: The following are the collection standards of real estate tax in Singapore:

1. Real estate with an annual value of less than S $6,000 is exempt from real estate tax.

2. For the property with an annual property value of S $6,900, 4% will be deducted for the part above 6,000,6000, that is, S $36 (equivalent to 180 China RMB). The annual value of the property is higher than 24,000 Singapore dollars, and the part above 24,000 is subject to 6% real estate tax.

For example, Singapore has 1 set of 70 square meters (usable area) of two-bedroom and one-bedroom property, assuming that this property is worth S $6,900 per year. If you don't own the house, but rent or lend it, the tax rate of the real estate is 10% of the annual value of the house, that is, 900* 10%=90 Singapore dollars, which is about 437 yuan in China. If the house is occupied by the owner, the real estate tax rate is 4% of the annual value, that is, 900*4%=36 Singapore dollars, or about 180 China RMB.

Second, the basic concept of "annual value" is an innovative move in Singapore's real estate management.

The annual value of 1. (referring to the total output value of the house) refers to the net profit that Singapore Inland Revenue Department can get from the house rent over the years, that is, the final income obtained after deducting the expenses of property management services, furniture and its maintenance from the rent. It should be noted that the rent estimate here is only for 1 room, not the whole house rent.

2. In addition, the annual value of the house is comprehensively evaluated by the tax authorities with reference to the advantages and disadvantages of the year, the old and new degree of the house, the area where it is located, infrastructure and other reasons, and the actual data is updated every year.

3. Singapore has adopted a more flexible way in the collection rate of real estate tax. The collection rate of self-owned property is as low as 4%, and the collection rate of other properties is 10%.

4. Among them, self-occupied families, rented families of government departments and small-sized houses can further enjoy other preferential policies or discounts, so ordinary families pay little real estate tax.

Three: Singapore's property tax is calculated according to the annual output value of the house.

1. Singapore's property tax is calculated according to the annual output value of the house, which is the net income that the house can earn rent every year, that is, the annual rent MINUS the expenses of property management, furniture and maintenance. The government embodies the principle of leaning towards the disadvantaged groups in property tax, that is, the property tax rate of self-occupied property is 4%, and the tax rate of other types of property (such as housing lessors) is 10%.

2. For small huxing owners, the government will give preferential treatment on the basis of 4% self-occupation. In other words, the government will estimate the annual rent according to the property you own, whether it is an apartment, a private property or a house with land. For example, if you own a house, the government will give you an annual value. You can collect S $50,000 for a year, so the tax is S $5,000.

3. In this respect, whether it is bungalow, private property or other types of property, there is no difference, and all of them have to pay 10% property tax. The only difference is that you can apply to the government to say that I live in this house, so the tax rate can be reduced to 4%. In other words, even if I live in my own house, you can't help but pay less property tax.

legal ground

Singapore tax system

The main changes of Singapore's tax system in the past three years

20 17, 17126 October, 20 17 Income Tax (Amendment) Law was promulgated, including the specific changes related to transfer pricing as follows:

The draft (1) clarifies the possible adjustments made by the Comptroller of the Inland Revenue Department (hereinafter referred to as "Comptroller") to implement the principle of independent transaction;

(2) From the tax year of 20 19, the transfer pricing adjustment approved by the controller will generate penalty interest;

(3) The transfer pricing documents for the same period must be prepared. From the tax year of 20 19, those who fail to submit documents for the same period will be fined;

(4) Extend the statutory review time so that the Comptroller can make an in-depth evaluation of the cases of mutual consultation procedures;

(5) From the tax year of 2019, the application for correction of related party transactions must be proved by the transfer pricing documents of the same period;

(6) Obviously, the Minister may declare the country report exchange agreement and other similar agreements as international tax agreements.

The Minister of Finance of Singapore submitted the budget plan for 20 18 on February 6th, 2009. For consumption tax, the consumption tax rate will be increased from the current 7% to 9% between 202 1 and 2025. In addition, the 20 18 budget also stipulates that Singapore will start to collect the consumption tax on imported services from 1 in 2020.

On April 2, 20 19, the income tax (amendment) law of 20 19 was put forward, which is likely to be passed at the end of September or the beginning of June. The specific changes are as follows:

(1) Singapore real estate trust investment and real estate investment trust fund tax transparency treatment plan extended to 65438+February 3, 20251;

(2) The amortization period of intellectual property rights is extended by 5 years to 65438+February 3, 20251(according to Chapter 19B of Singapore Income Tax Law);

(3) The non-fixed resident plan is gradually stopped. The last "abnormal resident status" is valid for five consecutive tax years from 2020 to 2024;

(4) Amend and redefine the tax preference bill for funds managed by Singapore Fund Management Company.

In addition, the tax rates of personal income tax, corporate income tax and stamp duty, as well as tax relief, have also been adjusted in the past three years, as described in the introduction of various taxes below.