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Singapore Government Imposes Additional Buyer’s Stamp Duty for Residential Properties

January 2012 - Real Estate & Property. Legal Developments by Selvam LLC.

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On 7 December 2011, the Inland Revenue Authority of Singapore (“IRAS”) issued an e-Tax guide entitled “Stamp Duty: Additional Buyer’s Stamp Duty (ABSD) on Purchase of Residential Properties” (“IRAS Circular”)1 to provide guidance on the application of the new additional buyer's stamp duty (“ABSD”) on certain categories of residential property purchases, following the Singapore government’s recent announcement on the imposition of the ABSD requirement to moderate investment demand for private residential property and promote a more stable and sustainable market.

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For more information please visit www.asalliance.com.sg

Duane Morris & Selvam LLP, a Joint Law Venture