Royal Tangles: Singapore Land Sale Entangled in Billion Dollar Tax Bill The sale of a 41 acre plot of land in Singapore's heart, valued at over US$1 billion, has hit a roadblock due to a massive tax bill that could exceed S$2 billion (US$1.
6 billion). This levy, known as a land betterment charge, is a major sticking point in negotiations between prospective buyers and Tunku Ismail Ibrahim, the eldest son of Malaysia's billionaire king.
At first glance, this seems like a routine real estate transaction complicated by an unexpected tax bill.