If you did not pay or paid late
Taxpayers have to stamp and pay the stamp duty on time. Each year, a minority of taxpayers fail to do so. To ensure fair administration of taxes, enforcement actions have to be taken against those who do not comply with their filing or payment obligations.
Taxpayers have to stamp and pay the stamp duty by the following dates:
- 14 days from the date of execution if the document is signed in Singapore;
- 30 days of its receipt in Singapore if the document is signed overseas.
When no payment is received, a Demand Note will be issued to inform you of the penalty imposed. If the delay does not exceed three months, the maximum amount of the late penalty is $10 or equal to the duty payable, whichever is greater. If the delay exceeds three months, the penalty payable is $25 or four times the duty payable, whichever is greater.
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Demand Note – What should I do
You should pay the stamp duty and the penalty by the due date stated in the Demand Note. Otherwise further penalties may be imposed and recovery actions will be taken.
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Demand Note’s due date is over – What will happen
We may, without prior notice, recover the outstanding duty by:
- Appointing your bank, employer, tenant or lawyer as agent to pay us; and
- Taking legal action.
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Bank is appointed – What should I do
The bank can be released as agent only after the outstanding stamp duty and penalty are paid. Therefore, this can be either:
- After the bank pays the full amount to IRAS; or
- After you have arranged to pay the full amount to IRAS. If you do so, please call us on 6351 2820/3850 to inform us so that the appointment can be released as soon as possible.
Please note that banks do not process requests for release on Saturdays, Sundays and Public Holidays.
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