Tax concessions given to foreign nationals or entities through free trade agreements (FTAs)

23 September 2013

The US-Singapore FTA (USSFTA) and the Singapore-European Free Trade Association FTA (ESFTA) are the only two FTAs where Singapore is obliged to accord Nationals of the United States of America, and the Nationals and Permanent Residents of Switzerland, Norway, Liechtenstein and Iceland, similar treatment in respect of taxes (including stamp duties) as Singaporeans. Otherwise, foreign entities do not enjoy Additional Buyer’s Stamp Duty (ABSD) remission in the purchase of residential properties in Singapore.

The above is based on the reply by the Ministry of Finance on 16 September 2013 to parliamentary questions from Non-Constituency Member of Parliament Gerald Giam Yean Song.

Source: Ministry of Finance