Singapore

Singapore

The Amount of Additional Buyer's Stamp Duty Raised for Foreigners

06 Jul 2018

Effective 6 July 2018, Singapore changed the Additional Buyer’s Stamp Duty (ABSD) levied on the occasion of the acquisition of residential property in Singapore. The amount of the ABSD is calculated on the value of the property, and the rates depend on nationality and residency status of the acquirer. The rate applicable to non-resident foreigners is henceforth set at 20% of the property value, up from 15% since January 2013. Resident foreigners and Singapore citizens also pay ABSD under certain conditions.