Additional duties on property transfers into trusts are not meant to be wealth taxes: Chee Hong Tat
SINGAPORE - Additional duties on property transfers and stake transfers in property holding entities to nameless living trusts are not meant to be wealth taxes but are instead part of market cooling measures, Senior Minister of State for Finance Chee Hong Tat said on Tuesday (July 5).
He was responding in Parliament to questions from four MPs about proposed changes in the law aimed at plugging a gap in the existing stamp duty regime.
……Read full article on The Straits Times - Singapore
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Liew989 07/07/2022
Should have implemented the additional duties on property transfers long ago. Finally the loop hole is plugged.
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