09 Dec '11, 1am

Citizens of 5 countries to pay same stamp duty as Singaporeans when they buy a private home

Citizens of five countries that have free trade deals with Singapore, including the United States and Switzerland, will be treated as Singaporeans for the purposes of the new stamp duty measures. When they buy a private home, Americans, Swiss and nationals from Liechtenstein, Norway and Iceland will be treated the same as Singapore citizens, the taxman said in a guide on Wednesday. This will enable them to avoid the new 10 per cent additional buyer's stamp duty that foreigners now have to pay when they buy a private home. Free trade agreements usually ensure that a country's citizens are accorded certain trade protections when they are in the partner nation. Please enable JavaScript to view the comments powered by Disqus. blog comments powered by Disqus

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

Comments

  1. 10 Dec '11, 1pm

    My blog explains why Americans and EFTA nationals are exempted from the ABSD. http://aseanec.blogspot.com/2011/12/in-singapore-property-market-not-all.html

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