07 May '13, 7am

curbs add $1 billion to tax revenue

http://www.straitstimes.com/archive/...venue-20130503 Property curbs add $1 billion to tax revenue Additional buyer's stamp duty rakes in $158m alone after January hike Published on May 03, 2013 By Esther Teo Property Correspondent THE raft of cooling measures imposed to tame the red-hot property market has delivered more than $1 billion in additional levies to the taxman. The surge in revenue was bolstered following the additional buyer's stamp duty (ABSD) of up to 15 per cent that was rolled out in January. About $158 million in ABSD was netted in February and March, bringing the total until March to $1.03 billion since the tax was introduced in December 2011, the Inland Revenue Authority of Singapore (Iras) told The Straits Times recently. The January measures - the seventh since September 2009 - also marked the first time that Singaporean investors buying their second ...

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