information for global expats

Investment Taxation for Expats in Singapore

Submitted: February 2014

Taxable income in this category includes:

  • interest from bank and building society deposits
  • interest from government and corporate stocks (bonds)
  • rental income from properties both in Singapore and abroad
  • dividends, and
  • capital gains.


Interest income from Asian dollar bonds and certain approved bank deposits is tax exempt.

For residents, interest income from Singaporean sources is treated as ordinary income and taxed at the applicable marginal rate. It must be reported on your tax return. As a resident, you will not have to pay income tax on interest received from outside Singapore, but you may be subject to withholding taxes in the country of origin. If there is a suitable tax treaty, the withholding tax rate can be reduced to between 5% and 10%.

For non-residenttaxpayers who have spent 60 days of less in Singapore in a year, Singapore-source interest income is exempt from tax. If you have stayed more 61-182 days in Singapore in a year, interest income from Singaporean sources is treated as ordinary income, and taxed at either 15%, or the applicable marginal rate, whichever is higher. It must be reported on your tax return. Once you have stayed in Singapore for longer than 183 days in a 12 month period, you will be considered resident, and have to pay income tax in the same way as a resident (see above).

Rental income

For both residents and non-residents, rental income from property in Singapore is taxed as ordinary income and must be reported with your tax return. Certain rental expenses can be deducted in order to calculate taxable income, these include:

  • property tax
  • mortgage interest
  • fire insurance
  • repairs
  • maintenance, and
  • certain fees and commissions payable.

In addition if you own a rental property in Singapore, you will be liable for an annual property tax, which is calculated on the Annual Value (AV) of the property. The AV is the estimated annual rent of your property, which may be higher or lower than the actual rent charged, as it is based on an analysis of similar properties. The rate of tax varies from 0% for an AV of S$8,000 or less to 15% for an AV in excess of S$130,000. There is more information on property tax here.


For residents and non-residents, dividend income from Singapore companies is exempt from taxation.

For non-resident taxpayers, dividend income from Singapore companies is not subject to withholding tax.

Capital gains

For residents and non-residents, there is generally no capital gains tax. The exception to this is where a capital gain is regarded as income as a result of trading of business, in which case it is subject to income tax. For non-residents who trade in real property a withholding tax of 15% may be imposed on the gross proceeds of a sale.



We value input from our readers. If you spot an error on this page or have any suggestions, please let us know.


Moving to Singapore

If you are considering moving to Singapore or are soon to depart, you can find helpful information and advice in the Expat Briefing dedicated Singapore section including; details of immigration and visas, Singaporean forums, Singaporean event listings and service providers in Singapore.

picture1 Read More

Living in Singapore

From your safety to shoppingliving in Singapore can yield great benefits as well as occasional drawbacks.  Find your feet and stay abreast of the latest developments affecting expats in Singapore with relevant news and up-to-date information.

picture1 Read More

Working in Singapore

Working in Singapore can be rewarding as well as stressful, if you don't plan ahead and fulfill any legal requirements. Find out about visas and passports, owning and operating a company in Singapore, and general Singaporean culture of the labour market.

picture1 Read More



About | Useful Links | Global Media Partners | Media | Advertising And Sales | Banners And Widgets | Glossary | RSS | Privacy & Cookies | Terms And Conditions | Editorial Policy | Refer To A Friend | Newsletters | Contact | Site Map

Important Notice: Wolters Kluwer TAA Limited has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments. © Wolters Kluwer TAA Ltd 2017. All rights reserved.

The Expat Briefing brand is owned and operated by Wolters Kluwer TAA Limited.