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When to pay ABSD?
ABSD is imposed depending on your citizenship and property count.
Category | 1st | 2nd | 3rd and more |
---|---|---|---|
SC | 0% | 20% | 30% |
PR | 5% | 30% | 35% |
For foreigners and business entity, it doesnโt matter how many property they already own, since it is hefty.
Category | ย |
---|---|
Foreigners | 60% |
Entity/Trust | 65% |
NOTE: Foreigners from Switzerland, Norway, America/USA, Iceland & Liechtenstein (SNAIL) will be treated as SC, due to Free Trade Agreements โ that is they donโt need pay ABSD!
BSD and ABSD must be paid within 14 days after exercising your OTP.
Where the Contract or Agreement is executed (signed) overseas, BSD and ABSD must be paid within 30 days after the receipt of the Contract or Agreement in Singapore.
Audit checks will be conducted by IRAS. Failure to do so, you will have to pay a penalty of 4 times the amount of unpaid duty.
Yes, however you need to pay in cash first.
You should apply for the one-time reimbursement of stamp duty on/or before the date of the legal completion. This is to use any accumulated CPF since you paid in cash.