Singapore targets UHNWIs with hefty 35% property tax  

clock • 2 min read
Singapore targets UHNWIs with hefty 35% property tax  

Singapore's Ministry of Finance has imposed a significant 35% additional buyer's stamp duty (ADSB) on homes transferred into a trust where there's no identifiable beneficial owner in a move widely seen as a crackdown on ultra-high net worth individuals who use opaque structures.   It said in a statement that the ABSD of 35% will apply on any transfer of residential property into a living trust where the transfer occurs on or after 9 May 2022.  "Today, when a residential property is tran...

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