Various Types of Taxes
One classification of taxes is based on whether a company or an individual pays the tax. However, taxes may also be classified with regard to what is actually taxed, not who pays the tax. In this respect, we can say that there exists income tax, property tax, estate duty, motor vehicle taxes, customs and excise duties, goods and services tax or GST for short, betting taxes, stamp duty, foreign worker levy, and the airport passenger service charge in Singapore.
What the individual taxes are imposed upon is, in most cases, obvious from their names. Estate duty was abolished in 2008 and the respective law regulating this tax is no longer in effect. If we take a closer look at the customs and excise duties, we find out that there is only a small selection of products that the excise duties are imposed on. These include tobacco, liquors, and petroleum products. Customs duties are mostly on these products and on motor vehicles