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Property tax breaks extended,
Singapore
In Singapore, the property tax rebates for industrial and commercial properties, initially implemented to ease cost pressures on developers during the financial crisis, are being extended until 2001. The current plan provides tax rebates of 55 per cent and is scheduled to end in June 2000. However, under the revised program, tax rebates would continue but at a lower rate of 25 per cent. The extension is due to the continued weakness in the rental markets. The rebates will cost the government S$250m (approx. US$145.58m).
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Abstract from South China Morning Post 01-Mar-00 |
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supplied by PMI-Asia.com |
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