On 26 April 2023, the Ministry of Finance, Ministry of National Development, and Monetary Authority of Singapore jointly announced in a press release the increase in Additional Buyer’s Stamp Duty (“ABSD“) rates to “promote a sustainable property market”. The new measures have since taken effect from (and including) 27 April 2023. In this Update, we provide a summary of the key changes to ABSD rates in the new measures.
For more information, click here to read the full Legal Update.
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