SINGAPORE:
The Ministry of National Development announced that private property owners selling within four years will incur a higher seller’s stamp duty (SSD), effective from July 4. The SSD holding period has increased from three to four years, with rates rising by 4 percentage points for each tier, reaching a maximum of 16% for sales within one year of purchase.
Explain It To Me Like I’m 5: The government in Singapore has decided that if someone sells their house within four years of buying it, they have to pay more money as a penalty.
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