http://www.nasdaq.com/aspx/stock-ma...cuts-charge-for-residential-developments-by-2 Nasaq, 31 Aug 2009 Singapore Government Cuts Charge For Residential Developments By 2% SINGAPORE -(Dow Jones)- Singapore's Ministry of National Development said Monday that it will cut a tax on residential property sites that are developed into more valuable projects by 2%, on average, islandwide. The revised charges will take effect Sept. 1, and will last until March next year, the ministry said in a statement. The highest tax cut - 17% - is for residential developments on the island of Sentosa, which has seen a decline in buyer interest since the property market started to slow in 2008. The government also cut the rate for commercial, hotel and hospital developments across the island by 4%. The same cut will apply to sites being developed for commercial use in the business zone. Singapore's property market dropped sharply earlier this year as the island fell deep into recession. The market has been recovering, however, as buyers take advantage of property price cuts. --------------------- Latest updates @ Singaporenewsalternative.blogspot.com: 1. PM Lee: Opposition win reflects Japan`s desire for change 2. GIC to Invest in Sinopharm’s Initial Stock Sale 3. S'pore's GIC names chiefs for Europe, Americas operations 4. Singapore workers urged to be better and faster 5. Singapore Government Cuts Charge For Residential Developments By 2% 6. Singapore July bank lending down 0.15 pct from June-MAS 7. Switzerland, Singapore Initial Revised Double Tax Agreement 8. Changi Airport Group calls tender for mid-price brand name fashion concessions to target ‘price-savvy travellers’ .