What is Stamp Duty in Singapore?
Stamp duty is applicable for purchasing a property, lease agreement and transferring of shares.
When you buy property, you have to pay Buyer's Stamp Duty ("BSD") based on the purchase price or market value, whichever is higher. As of 15 February 2023, the BSD rates range from 1% to 6% depending on the property value and type of property. There may also be Additional Buyer's Stamp Duty ("ABSD") payable based on the Buyer's profile.
For lease agreements, tenants have to pay Stamp Duty based on the total rent over the lease period. The rates range from 0.4% to 3% depending on the lease period and annual rent.
When you transfer shares, you have to pay a Stamp Duty of 0.2% on the consideration or net asset value (NAV), whichever is higher. There are exemptions for certain types of share transfers, like those between related parties or for corporate restructuring.
Type of Documents Subject to Stamp Duty
Lease / Tenancy Agreements for Properties
Transfer Documents for Properties
Mortgages for Properties
Transfer Documents for Shares
Mortgages for Shares
Dutiable documents relating to Property Holding Entities
Stamp Duty Relief for Shares
Transfer of Assets between Associated Permitted Entities
Reconstruction or Amalgamation of Companies
Conversion of Firm to Limited Liability Partnership
Conversion of Private Company to Limited Liability Partnership
Acquisition of Shares of Companies
Late or Non-payment of Stamp Duty
It is an offence to pay late or non-payment for stamp duty. The penalty includes imposing a fine of $10 or an amount equal to the duty payable when there is a delay in payment not more than 3 months. A penalty of $25 or 4 times the duty payable will be imposed, for payment delay of more than 3 months.
What We Offer for Stamp Duty
We can advise on various aspects of stamp duty applications.
Our services include the following:-
- Advising on stamp duty implications arising from proposed transactions
- Analysing stamp duty relief conditions and advising on applicability of stamp duty relief to proposed transactions
- Assisting with making an application for relief of stamp duty for transactions involving transfer of assets between Associated Permitted Entities and Reconstruction or Amalgamation of Companies
