IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 08 Dec 2011 | Removal date: open ended
Still in force

FDI: Treatment and operations, nes

On 7 December 2011, the government of Singapore announced a disproportional increase of the stamp duty for foreign buyers of residential property.
 
In a move intended to dampen the rise of property prices, the Ministry of Finance introduced an Additional Buyer's Stamp Duty (ABSD) yielding a total stamp duty differing along nationalities:

  • Foreign private and institutional buyers: 13 percent from the first piece of residential property.
  • Permanent foreign residents: 6 percent from the purchase of their second property unit.
  • Singaporean citizens: 6 percent from the third piece of residential property.

 
Prior to the change, the common stamp duty had been 3 percent regardless of units bought and nationality of the buyer.

AFFECTED COUNTRIES

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