Singapore Gazettes Regulation Implementing Rules for Transfer of Property Tax Remission Benefits Due to Coronavirus

The Singaporean Official Gazette May 12 published Regulation No. S 375, COVID-19 (Temporary Measures) (Transfer of Benefit of Property Tax Remission) Regulations 2020, implementing rules for transfers of property tax remission benefits to tenants due to the coronavirus pandemic. The regulation includes measures: 1) for calculating the amount of property tax remission benefits owners must pass on to tenants holding properties at any time from April 3 to Dec. 31; 2) requiring owners to share with tenants a portion of any increased rebate amounts resulting from changes in circumstances; 3) requiring owners to share a prescribed portion of the benefit ...