Page 4 - Listing a Real Estate Investment Trust in Singapore or China

OTHER TAXES
Stamp Duty

For properties in Singapore
Buyers’ Stamp Duty (BSD) - Sale or transfer of immovable property is
subject to up to 3% stamp duty (non-residential properties), and up to
4% stamp duty (residential properties) on the purchase consideration, or
the market value of the asset, whichever is higher. Additional Buyers
Stamp Duty (ABSD) of up to 30% may also be applicable.

Seller’s Stamp Duty (SSD) – For industrial properties, SSD is imposed at
the rate of 5 to 15% (depending on the duration the property was held
and disposed within three years). For residential properties, SSD is
imposed at the rate of 4 to 12%, also depending on the duration the
property was held and disposed within three years.

Stamp Duty Exemption (Section 36 “Exemptions” of the Stamp Act)

No duty shall be chargeable in respect of

Section 36(b) “any instrument for the sale,
transfer, lease or other disposition,
either absolutely or by way of
mortgage or otherwise, of land
situated outside Singapore or any
share, estate or interest in land
situated outside Singapore.”

Goods and Services Tax (GST)
A REIT can be registered for GST. Once registered, the REIT has to
charge GST (at the prevailing rate of 7%) on the rental and related
incomes derived from its property holding, property management and
related activities.

GST concession is granted to S-REITs and S-Registered Business Trusts
(S-RBTs) carrying on qualifying businesses, namely infrastructure
business, aircraft leasing, and ship leasing. S-REITs are able to claim GST
incurred on business expenses, excluding disallowed expenses under
Regulations 26 and 27 of the GST (General) Regulations, regardless of
whether they are GST registrable or not.

In February 2015, the concession was further enhanced by extending it
to Special Purpose Vehicles set up by S-REITs and qualifying S-RBTs,
solely to raise funds for business operations of the S-REITs.

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