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.
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
Actions will be taken against taxpayers who do not pay their Stamp Duty on time or fail to pay altogether.
A Demand Note will be issued to inform taxpayers of the penalties when the payment of Stamp Duty is not made by the due date.
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.
A penalty of $25 or 4 times of the duty payable, whichever is greater, will be imposed for late payments exceeding 3 months.
Taxpayers that receive a Demand Note should pay the Stamp Duty and the penalty by the due date stated in the Demand Note to avoid further enforcement actions such as additional penalties or summons.
A penalty of 5% per annum calculated on a daily basis on duty payable for Voluntary disclosures which qualify under IRAS’ Voluntary Disclosure Programme.
The outstanding duty will be recovered without prior notice by:
Your bank is released as agent only after the unpaid Stamp Duty and penalty are paid.
Therefore, this can be either:
Please note that banks do not process requests for release on Saturdays, Sundays and Public Holidays. Any request for release after 2pm on weekdays can only be processed on the next working day.