Taxes
Singapore — Tax: Wealth Tax
Singapore does not levy a wealth tax on individuals' net wealth — the government has cited practical difficulties in accurately estimating wealth and the mobility of many wealth forms as reasons against adopting one. Instead, Singapore relies on targeted wealth-adjacent taxes such as property tax (progressive rates on owner-occupied vs. non-owner-occupied residential property) and the Additional Buyer's Stamp Duty (ABSD) on property purchases, rather than a broad annual levy on net assets.
VerifiedProfessional tax guide — not a government sourceInland Revenue Authority of Singapore (IRAS) / PwC Worldwide Tax SummariesLast reviewed: 2026-07-20
Key facts
- Singapore has no wealth tax on individuals' net assets.
- The government cites practical difficulty in accurately estimating wealth, and the mobility of many wealth forms, as reasons against a wealth tax.
- Wealth-adjacent taxation instead comes through progressive property tax rates and the Additional Buyer's Stamp Duty (ABSD) on property purchases.
- No wealth tax is scheduled or proposed for introduction as of 2026.
Common mistakes
- Assuming Singapore's high property/ABSD taxes constitute a wealth tax — they are transaction/ownership-based property taxes, not a tax on total net wealth.