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IRAS to claw back S$60 million from private property buyers who used '99-to-1' scheme to reduce ABSD

"The '99-to-1' arrangement is a tax avoidance arrangement used by some property buyers to reduce the rightful Additional Buyer’s Stamp Duty payable on the purchase of a residential property," says Deputy Prime Minister Lawrence Wong.

https://www.channelnewsasia.com/singapore/99-1-property-tax-avoidance-absd-audit-iras-agents-lawyers-4319086

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