Lawmakers yesterday passed a government-initiated bill which proposes that the owners of residential units need to pay housing tax even when their flat is vacant.
The urgent bill proposes amendments to the existing housing tax regulations according to which the owners of residential units do not need to pay housing tax when the flat is unoccupied.
The legislature yesterday also passed the outline of another government-initiated urgent bill which proposes that an additional stamp duty be levied on all those who buy residential units in addition to their first one.
Flanked by his chief-of-cabinet Teng Nga Kan (left) and Financial Services Bureau (DSF) Director Iong Kong Leong (right), Secretary for Economy and Finance Lionel Leong Vai Tac addresses yesterday’s plenary session in the legislature’s hemicycle. Photo: GCS
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