Singapore Stamp Duty

Stamp duty in Singapore applies to property transactions, share transfers, and lease agreements. Administered by IRAS, it is essential for ensuring legal compliance in these transactions.

What is Stamp Duty?

Stamp duty is a tax imposed on legal documents related to the sale, lease, or transfer of immovable property and shares.

Types of Stamp Duty in Singapore

1. Buyer's Stamp Duty (BSD)

• Payable on property purchases.
• Rates for Residential Properties:
• 1% on first S$180,000.
• 2% on next S$180,000.
• 3% on next S$640,000.
• 4% on amounts exceeding S$1 million.

2. Additional Buyer's Stamp Duty (ABSD)

• Applies to certain buyers of residential properties.
• Varies based on residency status and number of properties owned.
• Example: Singapore citizens pay 20% on their second property and 30% on their third.

3. Seller's Stamp Duty (SSD)

• Applies to residential properties sold within a holding period.
• 12% within 1 year, 8% in the second year, and 4% in the third year.

4. Stamp Duty for Leases

• Applies to leases exceeding 4 years.
• Rate: 0.4% of the total rent.

5. Stamp Duty for Shares

• Payable on share transfers.
• Rate: 0.2% of purchase price or market value, whichever is higher.

How to Calculate and Pay Stamp Duty

1. Use IRAS's online Stamp Duty Calculator.
2. Access the e-Stamping Portal via Singpass or CorpPass.
3. Make payment via internet banking, GIRO, or card.
4. Receive the Stamp Certificate as proof of payment.

Penalties for Late Payment

• 5% penalty on overdue stamp duty.
• Further fines or legal action for continued non-payment.

Exemptions and Reliefs

• Marriage Exemption: No ABSD for married couples with one Singapore Citizen.
• Intragroup Transfers: Relief available for property or share transfers within corporate groups.

How Apexia Corporate Advisory Can Help

• Stamp Duty Assessment: Calculate and assess duty payable.
• Documentation Support: Assistance with IRAS filing.
• Exemption Applications: Guidance on applying for reliefs.
• Compliance Review: Ensure adherence to Singapore's stamp duty laws.