Stamp duty is a tax on commercial and legal documents. Here is a quick overview of stamp duty and how it affects your business. It is not meant to be an in-depth guide on stamp duty.
What Is Stamp Duty?
When Do Documents Have To Be Stamped?
How Much Stamp Duty Do I Have To Pay?
How Do I Stamp My Documents?
How Do I Get Duplicates Of Stamped Documents?
Special Rules For Limited Liability Partnerships
Where Can I Get Help?
What Is Stamp Duty?
- Stamp duty is actually a tax on commercial and legal documents.
- By stamping your documents, and paying the tax, your transaction is recorded and "recognised".
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When Do Documents Have To Be Stamped?
- Stamp duty is only payable on documents relating to immovable property (land and property), stocks and shares, e.g. an agreement for the sale and purchase of land.
- You can stamp your documents before or after executing (legally signing) them.
- For documents executed in Singapore, they must be stamped within 14 days of execution.
- For documents executed abroad, they must be stamped within 30 days of receiving them in Singapore.
- You should always stamp your documents in time to avoid penalty fees. If you fail to stamp your documents, you may be fined up to S$10,000 or imprisoned up to 3 years or both.
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How Much Stamp Duty Do I Have To Pay?
- The amount of stamp duty you have to pay depends on the value of the transaction.
- There are different rates charged for purchase, gift, lease, transfer and mortgage of immovable property, stocks and shares.
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How Do I Stamp My Documents?
Over The Counter
- You should download and fill up the relevant stamp duty form before going to IRAS to get your documents stamped over the counter.
- Bring your forms, together with your documents to:
Address:
|
55 Newton Road Revenue House Singapore 307987 |
| MRT Station: |
Novena |
| Opening Hours: |
Weekdays - 8.00am to 5.00pm |
|
Saturdays - 8.00am to 1.00pm |
- You can pay your stamp duties by NETS, cheque or cash. You can also pay by cashier order or bank draft and these are to be made payable to the "Commissioner of Stamp Duties".
Over The Internet
- If your accountant/lawyer/housing agent is a subscriber of the e-Stamping system, he or she can help you to file and stamp