Making a submission to IRAS

For acquisition of equity interest in a company, share duty remains payable in addition to ACD. You are required to stamp the instrument and pay the share duty via the e-Stamping Portal.

In addition, you will have to make a submission to IRAS within 14 days after the date of execution of the instrument (if executed in Singapore) or 30 days after the receipt* of the instrument in Singapore (if executed overseas) via the e-Stamping Portal > Request > Apply for Assessment (Additional Conveyance Duties). You will have to login with your Singpass (under Individual or Business user).

List of supporting documents and information required

  1. A copy of the contract/agreement or transfer instrument
  2. A copy of the trust instrument (for trusts)
  3. Entire group structure (pre-acquisition and post-acquisition) which shows: 
    1.  The chain of relationship including the percentage of equity interest between: 
      1. The ultimate holding entities, the intermediate holding entities and the immediate holding entities of target entity
      2. The target entity and all its related entities
    2. Indication on the group structure the target entity or the related entities (whichever applicable) which own PIP in Singapore
  4. Documents (e.g. ACRA business profiles) which support the percentage of equity interest between each entity in S/N 3(a).
  5. Listing of the PIP in S/N 3(b). The listing should include: 
    1. The entities’ names and the address/ land details of the PIP owned by each of them
    2. The value of the PIP and underlying residential properties, supported by the valuation reports
  6. Latest audited accounts of the target entity and all related entities
  7. Register of the target entity which reflects the number of equity interests owned, date of acquisition/ disposal by each holder of the equity interests
  8. Articles of association of the target entity or other documentary evidences to support the voting power of each equity interest of the target entity
  9. Declaration of associates (individuals and/ or entities) and their beneficial equity interest in the PHEs (Please use the template in Annex E (PDF, 843KB))
  10. Declaration by the buyer/seller that relevant checks have been made and the information provided is true.

The Commissioner of Stamp Duties may request for further information.

It is the responsibility of the party liable to provide the required information to IRAS.

If you are a buyer (also known as transferee, assignee or grantee), you should approach the seller (also known as transferor, assignor or grantor) for information in S/N 3, 5, 6, 7 and 8, and verify with each of your associates on the percentage of equity interests it owns in the target entity. The seller and associate are legally obliged to furnish the requested information to you.

If you are the seller, you should approach your associate to verify the percentage of equity interests it owns in the target entity. Similarly, the associate is legally obliged to furnish the requested information to you.  

*For electronic documents, they are deemed to be 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.