FAQStamp Duty in Singapore
| Q: |
What types of duties payable on Singapore’s properties? |
| A: |
There are three types of duties payable on the sale, purchase, acquisition or disposal of properties in Singapore. They are Buyer’s Stamp Duty (BSD), Additional Buyer’s Stamp Duty (ABSD) and Seller’s Stamp Duty (SSD). Buyer’s Stamp Duty is payable on the purchase of acquisition of properties. Prior to 20 Feb 2018, the top marginal BSD rate for both residential and non-residential properties was 3%. With effect from 20 Feb 2018, there are differentiated BSD rates between residential and non-residential properties. The top marginal BSD rate for acquisition of residential properties on or after 20 Feb 2018 is 4%. Additional Buyer’s Stamp Duty – if you buy or acquire residential properties (including residential land) on or after 8 Dec 2011, Additional Buyer’s Stamp Duty may be applicable. Seller’s Stamp Duty – if you buy or acquire residential properties and industrial properties on or after 20 Feb 2010 and 12 Jan 2013 respectively, Seller’s Stamp Duty is payable if the properties are sold within the holding period. |
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Q: |
What is an electronic document? |
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A: |
An electronic document includes any of the following that effects a transaction in any immovable property in Singapore, and any stock or shares: An electronic record that effects the transactions; An electronic record and a physical document that together effect the transaction or An electronic record and a verbal communication that together effect the transaction, with the electronic record concluding the transactions. |
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Q: |
What is an electronic signature? |
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A: |
An electronic signature is any electronic method used to identify a person and to indicate the person’s intention in respect of the information contained in an electronic record. Examples include electronic correspondences (emails, SMS, WhatsApp), electronic signatures (as opposed to wet ink signatures), biometric signatures (retina, fingerprint, voice), clicking on a button in an online system/platform/portal, ID card inserted into a device. |
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Q: |
When and where is an electronic document treated as executed? |
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A: |
It is important to know when and where an electronic document is executed as it affects the deadline by which you need to stamp the document. For documents executed in Singapore, the document has to be stamped within 14 days after the date it has been executed. For documents executed outside of Singapore and subsequently brought into Singapore, the document has to be stamped within 30 days after it has been received in Singapore. |
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Q: |
If an electronic document is executed outside of Singapore, when is treated as received in Singapore? |
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A: |
It will be treated as received in Singapore in any of the following scenarios: The electronic document is retrieved or accessed in Singapore; An electronic copy is stored on a device and brought into Singapore, or An electronic copy is stored on a computer in Singapore. |
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Q: |
When to Stamp? |
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A: |
You are required to stamp a document before you sign it. However, if you have signed a document and stamped it within the following time frame, no penalty will be charge: Within 14 days after signing the document if it is signed in Singapore or Within 30 days after receiving the document in Singapore if the document is signed overseas. |
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Q: |
Where to Stamp? |
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A: |
You can stamp your documents easily through any of the following: E-Stamping Portal Service bureaus E-Terminals at IRAS Surf Centre |
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Q: |
How much penalty on non-payment or late payment of stamp duty? |
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A: |
A penalty of up to 4 times may be imposed on documents that are unstamped, stamped late or insufficiently stamped. It is offence to use a document for which Stamp Duty payment has not been made. |
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