Buyer’s Stamp Duty
|Purchase Price or Market Value of the Property||BSD Rates for Residential Properties||BSD Rates for Non-Residential Properties|
|Amount exceeding $3,000,000||6%||5%|
IMPORTANT: New BSD rates with effect from 15 Feb 2023.
Additional Buyer’s Stamp Duty
|Nationality||1st Property||2nd Property||3rd Property|
|Entities / Companies||65%||65%||65%|
IMPORTANT: New ABSD rates with effect from 27 Apr 2023.
From 9 May 2022 onwards, any transfer of residential property into a living trust will be subject to an ABSD rate that is the same as entities.
Foreigners Eligible for ABSD Remission under Free Trade Agreements (FTAs)
Conditions for Remission:
Under the respective FTAs, Nationals or Permanent Residents of the following countries will be accorded the same Stamp Duty treatment as Singapore Citizens:
- Nationals and Permanent Residents of Iceland, Liechtenstein, Norway or Switzerland
- Nationals of the United States of America
- Buyer’s Stamp Duty (BSD) https://www.iras.gov.sg/taxes/stamp-duty/for-property/buying-or-acquiring-property/buyer’s-stamp-duty-(bsd)
- Additional Buyer’s Stamp Duty (ABSD) https://www.iras.gov.sg/taxes/stamp-duty/for-property/buying-or-acquiring-property/additional-buyer’s-stamp-duty-(absd)
- Foreigners Eligible for ABSD Remission under Free Trade Agreements (FTAs) https://www.iras.gov.sg/taxes/stamp-duty/for-property/appeals-refunds-reliefs-and-remissions/common-stamp-duty-remissions-and-reliefs-for-property/foreigners-eligible-for-absd-remission-under-free-trade-agreements-(ftas)
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