Late Payment of Stamp Duty

Most taxpayers pay their Stamp Duty on time. There are penalties if Stamp Duty is not paid on time.

Stamping Deadlines

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 charged: 

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

*For electronic documents, they are treated as received in Singapore in any of the following scenarios:
(a) the electronic document is retrieved or accessed by a person in Singapore; or
(b) the electronic document is stored on a device (including a computer) and brought into Singapore; or
(c) the electronic document is stored on a computer in Singapore.

Late payment penalty

You have to pay the Stamp Duty as shown in the assessment notice before the payment due date.

You are still required to pay the Stamp Duty before the payment due date even if you have filed an objection and are awaiting the outcome. If the assessment is subsequently revised, any excess payment will be refunded.

Delay in Payment Not Exceeding 3 Months

A penalty of $10 or an amount equal to the duty payable, whichever is greater, will be imposed for late payments not exceeding 3 months.

Delay in Payment Exceeding 3 Months

A penalty of $25 or 4 times of the duty payable, whichever is greater, will be imposed for late payments exceeding 3 months.

Taxpayers who received a late payment penalty notice should pay the Stamp Duty and the penalty by the due date stated in the notice to avoid further enforcement actions such as additional penalties or summons.

IRAS’ Voluntary Disclosure Programme

A penalty of 5% per annum calculated on a daily basis on duty payable for Voluntary disclosures which qualify under IRAS’ Voluntary Disclosure Programme (PDF, 963KB).

Late Payment Penalty Notice

You will be informed of the penalties via a late payment penalty notice. Payment must be made before the due date stated on the notice to avoid further enforcement actions.

Further Enforcement Actions

If the Stamp Duty continues to remain unpaid, other actions to recover the moneys may include:

  1. Appointing agents like your bank, employer, tenant or lawyer to pay the moneys to IRAS; and/or
  2. Issuing a Travel Restriction Order (TRO) to disallow your travel out of Singapore; and/or
  3. Taking legal action

You will experience inconveniences in using your bank accounts should your bank be appointed as an agent to recover Stamp Duty. In some instances, you may not be able to access your bank accounts until the full payment for your Stamp Duty has been received.

In addition to the recovery actions, IRAS may concurrently impose additional penalties on the overdue Stamp Duty, up to a maximum of 4 times of the Stamp Duty overdue.

Releasing Appointed Agents

Agents will only be released from the appointment after the Stamp Duty and penalties have been paid. 

Note:

For banks appointed as agents, requests for release cannot be processed on Saturdays, Sundays and Public Holidays. Any request for release of bank after 2pm on weekdays can only be processed on the next working day.

Travel Restrictions

If a Travel Restriction Order (TRO) is issued, you will not be allowed to travel out of Singapore until you pay the Stamp Duty and penalties in full.

The Notification for Release of TRO will be available at https://mytax.iras.gov.sg two working days after your payment has been received and can be retrieved to facilitate your travel at the immigration checkpoints when you leave Singapore. We will also mail the certificate to you within ten days.

For non-NRIC holders, please note that it is your responsibility to ensure that you have a valid pass to remain in Singapore. Please approach the Immigration & Checkpoints Authority (ICA) to extend your stay in Singapore if you require more time to resolve your Stamp Duty matters with IRAS. It is an offence to overstay in Singapore without a valid pass.