Chee Hong Tat on revised Buyer's Stamp Duty
The revised Buyer's Stamp Duty (BSD) rates will make Singapore's BSD regime more progressive by having higher rates when buyers purchase more expensive residential and non-residential properties, said Senior Minister of State for Finance Chee Hong Tat. Replying to an MP's questions in Parliament on Monday (Mar 6), he pointed out that the condition that the Option to Purchase should not be varied on or after Feb 15 this year aims to minimise gaming by buyers hoping to circumvent the revised BSD rates. He said buyers who are unable to fulfil the conditions of the transitional provision due to extenuating circumstances may submit an appeal to the Inland Revenue Authority of Singapore.
The revised Buyer's Stamp Duty (BSD) rates will make Singapore's BSD regime more progressive by having higher rates when buyers purchase more expensive residential and non-residential properties, said Senior Minister of State for Finance Chee Hong Tat. Replying to an MP's questions in Parliament on Monday (Mar 6), he pointed out that the condition that the Option to Purchase should not be varied on or after Feb 15 this year aims to minimise gaming by buyers hoping to circumvent the revised BSD rates. He said buyers who are unable to fulfil the conditions of the transitional provision due to extenuating circumstances may submit an appeal to the Inland Revenue Authority of Singapore.
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