The Inland Revenue Authority of Singapore (IRAS) has published updated guidance on Additional Buyer's Stamp Duty (ABSD), including an increase in the ABSD rates effective 16 December 2021. The increase is meant to cool the housing market. For entities subject to ABSD, the rate is increased from 25% to 35% from 16 December 2021, plus an additional 5% for housing developers. Entities acquiring residential properties with no intention to undertake housing development of the subject property acquired should pay the ABSD rate of 35%. For other types of individual buyers, the rates are also increased by 5% to 10%, including...