Government Operating Revenue

Operating Revenue refers to Government receipts credited to the Consolidated Revenue Account and Development Fund Account, excluding Investment and Interest Income, and Capital Receipts (lumpy and less regular in timing). The main components are Corporate Income Tax, Personal Income Tax, and Goods and Services Tax.

Withholding Tax-A non-resident is liable to pay income tax on Singapore-sourced income. Under the law, when a person makes payment of a specified nature to a non-resident, he has to withhold a percentage of that payment and pay the amount withheld to IRAS. The amount withheld is the Withholding Tax.

Assets Taxes refer to Property Tax and Estate Duty. Property Tax is a tax on the ownership of property and is payable by all property owners on the properties owned by them. Estate Duty is a tax on the total market value of a person's assets (cash and non-cash) at the date of his or her death. Estate Duty does not apply to a person who dies after 15 February 2008.

Customs Duties refer to taxes on goods imported into Singapore. In Singapore, Customs Duties are principally imposed on alcoholic beverages.

Excise Duties refer to taxes on goods, whether manufactured in Singapore or elsewhere. In Singapore, Excise Duties are imposed principally on tobacco, petroleum products, motor vehicles and liquor.

Motor Vehicles Taxes comprise additional registration fees, road tax, special tax on heavy-oil engines, passenger vehicle seating fees and non-motor vehicle licences, but exclude excise duties on motor vehicles which are classified under Customs, Excise and Carbon Taxes.

Stamp Duty is a tax imposed on commercial and legal documents relating to unlisted stocks and shares and immovable property.

Other Taxes include the Foreign Worker Levy, Water Conservation Tax, Land Betterment Charge, and Annual Tonnage Tax. Since 1 August 2022, Land Betterment Charge has replaced Differential Premium, Development Charge, and Temporary Development Levy.

Other Fees and Charges include Licenses, Permits, Service Fees, Sales of Goods, Rental of Premises, Fines and Forfeitures and Reimbursements.