S$2bil tax bill in S’pore land sale no issue, says TMJ
Tunku Ismail Sultan Ibrahim says he is 'more than happy to contribute to both countries'.
Johor regent Tunku Ismail Sultan Ibrahim has dismissed reports that a tax bill of over S$2 billion is hindering the sale of 16.6 hectares of land in Singapore. The land betterment charge, imposed when Singapore grants planning permissions that increase the land's value, was dismissed by Tunku Ismail as a routine expense. He expressed his willingness to pay the amount as part of the deal, stating that it is normal for a regular taxpayer.
Tunku Ismail, also known as TMJ, joked that the tax bill should double his contribution. The land in question includes a plot obtained through a land swap with the Singaporean government in 2025. The development plan involves constructing homes, including low-rise housing and mansions known as Good Class Bungalows.
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- S$2bil tax bill in S’pore land sale no issue, says TMJ freemalaysiatoday.com
