Singapore’s attractive tax policy is a vital part of its long-term approach to developing into the preferred destination for investment and talent from across the globe. Inland Revenue Authority of Singapore ( IRAS ) is the main government agency that levies and collects all taxes in the country. The following are some of the different types of taxes in Singapore. Income Tax Income tax is levied on the total income of individuals and companies. Property Tax Property tax is imposed on owners of unmoveable properties based on the percentage (tax rate) of the annual value of the property. Motor Vehicle Taxes These are taxes, other than import duties, that are imposed on motor vehicles. These taxes are imposed to curb car ownership and road congestion and include the various registration fees, excise duty, road tax and special tax. Customs & Excise Duties Singapore is a free port and has relatively few excises and import duties. The duties are mainly on motor vehic...