Singapore Hikes Property Tax, Doubling Rate on Foreigners to 60%

Bloomberg2023-04-27

Singapore is raising property taxes in a bid to cool the housing market, which has defied the slump afflicting other countries. The government is increasing stamp duties for second-home buyers and ...

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Comments

  • LEESIMON
    2023-04-27
    LEESIMON
    ok
  • Alice Arnault
    2023-04-27
    Alice Arnault
    For foreigners , these are Some ways to reduce or are using to reduce tax: Establish a local company: By setting up a local company in the target country and placing the property under the company's name, the property might be considered a local company asset rather than a foreigner's asset. This arrangement could help reduce property taxes for foreigners.  For example, if a 15% additional property tax applies to foreign individuals, but by setting up a local company, this additional tax could be avoided. Partner with a local partner: Consider forming a joint venture or partnership with a local partner. Placing the property under the joint venture's name or incorporating the local partner into the property's ownership structure could help lower property taxes. A case in point is when
  • Nibatry
    2023-04-27
    Nibatry
    Wow, prices of property face challenge 😳 
  • Success88
    2023-04-27
    Success88
    Good luck Singapore 😀
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