The owner occupied properties of Singapore are subject to considerably lower tax rates courtesy the Singapore Property Tax Rate system 2013, learns Singapore’s taxation specialist, SBS Consulting.
Singapore -- (SBWIRE) -- 10/30/2013 -- The considerable number of foreign professionals and entrepreneurs relocating to Singapore and gaining the permanent residence status in the due course of time is on the rise. This has subsequently increased the number of properties being owned in Singapore. Although the Singapore property tax rate for non-owner occupied properties stands at a flat 10%, the government has ensured that the tax rates for owner occupied properties ranges from 0% to 6% depending on the annual value of the property.
“Singapore’s booming property sector has enabled the taxpayer of the nation to invest in properties such as residential complexes, offices and vacant lands. And thanks to the progressive tax regime of the nation, the property tax rates over here are quite low when compared to the rest of the world”, says SBS Consulting.
SBS Consulting further added, “Taking into account the annual value of the Singapore property, the owner occupied properties end up paying far less taxes than their non-owner property occupant counterparts.”
In addition to the initiatives undertaken by the government of Singapore to spread information about the Singapore tax rates 2013, Singapore property tax rebates, reliefs, refunds, property tax deadlines, property tax exemptions etc, there are number of Singapore tax services providers who specialize in helping the property owners of the nation to pay appropriate property tax to IRAS (Inland Revenue Authority Singapore).
With substantial experience in Singapore taxation, SBS Consulting offers a whole range of tax services to the taxpayers of the country. They have a proven track record of successfully guiding the Singapore taxpayers to save as much money as possible in the form of taxes and ensure that they pay the taxes before the deadline date.
The services provided by the firm encompass Singapore tax filing, Singapore tax planning, ECI (Estimated Chargeable Income) filing and so on. The taxation Singapore services offered by the firm include all types of taxes such as corporate tax, personal tax, Goods and services tax, Property tax, withholding tax and double tax.
SBS Consulting with its esteemed team of tax experts have been resolving the tax related issues of its clients and offering end-to-end tax solutions to them with the aim of making them focus on their primary business operations.
About SBS Consulting
SBS Consulting is a Singapore taxation specialist providing an array of tax solutions to its clients in Singapore. Since it came into existence in 2010, it has been serving the Singapore taxpayers by guiding them in Singapore tax filing, tax planning, ECI filing and many more.
The team of SBS Consulting consists of eminent professional tax experts who shall assist and guide you in every possible way towards the fulfillment of your tax compliance issues.
SBS Consulting Pte Ltd
35-B Hongkong Street,
Singapore - 059674
Tel: +65 67289142
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