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IRAS Home
  • Who We Are
    • Who We Are
    • Our Organisation
      • Our Organisation
      • Mission, Vision, Core Values, and Logo
      • Board Members and Committees
      • Senior Management
      • Organisation Structure
      • Social Responsibility Statement
      • History and Milestones
      • Awards and Accolades
      • Data Protection Statement
    • What We Do
      • What We Do
      • Taxes in Singapore
        • Taxes in Singapore
        • The Singapore Tax System
        • Taxes and Nation Building
        • Encouraging Tax Compliance
      • Public Engagement
        • Public Engagement
        • Public Feedback
        • Partnership with Tax Agents
      • Annual Reports and Publications
        • Annual Reports and Publications
        • Annual Reports
        • Growing with IRAS
        • [email protected]
        • GST Bulletin
        • IRAS Careers Email Newsletter
        • Tax Statistics
      • Commitment to Service
        • Commitment to Service
        • Service Excellence for IRAS
        • IRAS Service Awards
        • Public Sector Transformation Awards
      • Corporate Governance
        • Corporate Governance
        • Whistleblowing
    • Social Site
      • Social Site
      • Digital Gallery
      • Life at IRAS
      • Partnering for Progress (Resources)
  • Taxes
    • Taxes
    • Individual Income Tax
      • Individual Income Tax
      • Basics of Individual Income Tax
        • Basics of Individual Income Tax
        • Managing myTax Portal account
        • Understanding my Income Tax filing
        • Tax residency and tax rates
        • What is taxable, what is not
        • Tax reliefs, rebates and deductions
        • Receive tax bill, pay tax, check refunds
        • Consequences of non-compliance
        • Voluntary disclosure of errors for reduced penalties
        • Report tax evasion
      • Employees
        • Employees
        • Basic guide for new individual taxpayers
        • Understanding my Income Tax filing
        • Tax residency and tax rates
        • What is taxable, what is not
        • Tax reliefs, rebates & deductions 
        • Receive tax bill, pay tax, check refunds
        • Scenario-based FAQs for working in Singapore and abroad
        • Special tax schemes
        • Consequences of non-compliance
        • Voluntary disclosure of errors for reduced penalties  
      • Self-Employed and Partnerships
        • Self-Employed and Partnerships
        • Am I a Self-Employed Person?
        • Tax obligations of Self-Employed Persons
        • Tax obligations of Partnerships
        • Tax obligations by industry, trade or profession
        • Understanding tax filing and payment
        • Calculating my business income
        • Business expenses and deductions
        • Consequences of non-compliance
        • Voluntary disclosure of errors for reduced penalties  
        • Report tax evasion
      • Non-Residents
      • Employers
        • Employers
        • Filing Employee Earnings (IR8A, Appendix 8A, Appendix 8B, IR8S)
        • Information to Share with Employees
        • Auto Inclusion Scheme (AIS) for Employment Income
        • Understanding the Tax Treatment
        • Retrenchment Exercise in the Company
        • Tax Clearance for Foreign & SPR Employees (IR21)
        • Digital Services
      • My Situation
        • My Situation
        • I have retired
        • I have been retrenched
        • I have a newborn
        • I am affected by COVID-19
        • I have other side or personal income
        • I am starting a new business
        • I have rented out my property
        • I received an audit letter
        • My family member has passed away
        • Scenario-based FAQs for working in Singapore and abroad
    • Corporate Income Tax
      • Corporate Income Tax
      • Basics of Corporate Income Tax
        • Basics of Corporate Income Tax
        • Corporate Income Tax Filing Season 2022
        • Basic Guide to Corporate Income Tax for Companies
        • New Company Start-Up Kit
        • Tax Residency of a Company
        • Record Keeping Requirements
        • Obtaining a Copy of Documents Issued by IRAS
        • Corporate Income Tax Rate, Rebates & Tax Exemption Schemes
        • Updating Company Particulars
        • e-Learning Videos/ Webinars/ Seminars on Corporate Income Tax
      • Estimated Chargeable Income (ECI) Filing
      • Form C-S/ Form C-S (Lite)/ Form C Filing
        • Form C-S/ Form C-S (Lite)/ Form C Filing
        • Overview of Form C-S/ Form C-S (Lite)/ Form C
        • Guidance on Filing Form C-S/ Form C-S (Lite)/ Form C
        • Preparing a Tax Computation
        • Penalties for Errors in Tax Returns
        • Late filing or non-filing of Corporate Income Tax Returns (Form C-S/C-S (Lite)/C)
        • After Filing Form C-S/ Form C-S (Lite)/ Form C
        • Using Accounting Software to Prepare & File Form C-S Seamlessly
      • Corporate Income Tax Payment
        • Corporate Income Tax Payment
        • Paying Corporate Income Taxes
        • Experiencing Difficulties in Paying Your Tax?
        • Late payment or non-payment of Corporate Income Tax
        • Claiming Refunds
      • Corporate Income Tax Compliance
        • Corporate Income Tax Compliance
        • Best Practices When Writing to IRAS
        • Getting Companies to Comply
        • Voluntary Disclosure of Errors for Reduced Penalties
        • International Compliance Assurance Programme (ICAP)
        • Enhanced Taxpayer Relationship (ETR) Programme
        • About Tax Governance and Tax Risk Management
        • Tax Evasion or Fraud
      • Income & Deductions for Companies
        • Income & Deductions for Companies
        • Taxable & Non-Taxable Income
        • Companies Receiving Foreign Income
        • Business Expenses
        • Claiming Allowances
        • Claiming Reliefs
        • Unutilised Items (Capital Allowances, Trade Losses & Donations)
        • Applying for Tax Incentives
      • Dormant Companies or Companies Closing Down
        • Dormant Companies or Companies Closing Down
        • Dormant Companies
        • Companies Applying for Strike Off/ to Cease Registration
        • Companies under Liquidation/ Judicial Management/ Receivership
      • Specific Industries
        • Specific Industries
        • Car Rental Companies
        • Car Tuition Companies
        • Companies Servicing Only Related Companies
        • Construction Companies
        • Investment Holding Companies
        • Property Developers
        • Shipping Companies
      • Specific Topics
        • Specific Topics
        • Adopting Financial Reporting Standard (FRS) 109 & 39 & the Tax Implications
        • Advance Ruling System for Income Tax
        • Transfer Pricing
        • Productivity & Innovation Credit (PIC) Scheme
        • Interbank Offered Rate Reform & the Tax Implications
        • Tax Treatment of Interest, Gains or Profits Derived from Negotiable Certificates of Deposit by Non-Financial Institutions
    • Property Tax
      • Property Tax
      • Property Owners
        • Property Owners
        • 2023 Property Tax Bill
        • Property Tax At A Glance
        • Annual Value
        • Property Tax Rates
        • Information for HDB Flat Owners
        • Tax Bills and Notices
        • View Statement of Account or View Bills and Notices
        • Payments
        • Object to Annual Value
        • Refunds
        • Property Tax Reliefs
        • Your situation
      • Property Buyers
        • Property Buyers
        • Buying HDB Flats
        • Buying Private Residential Properties
        • Buying Vacant Land or Development Sites
        • Buying Other Types of Properties
      • Property Professionals
        • Property Professionals
        • Real Estate/Housing Agents
        • Appraisers/Valuer
        • Developer
        • Architects
        • Lawyer/Legal Professional
      • Other Services
        • Other Services
        • Check Outstanding Property Tax
        • Change Mailing Address
        • Interactive Property Tax Calculators
        • Check Rental Transactions from other Government Agencies
      • Tax Compliance
        • Tax Compliance
        • Property Tax Audits by IRAS
        • Tax Evasion or Fraud
        • Update IRAS to Avoid Penalties
    • Goods & Services Tax (GST)
      • Goods & Services Tax (GST)
      • Basics of GST
        • Basics of GST
        • Goods and Services Tax (GST): What It Is and How It Works
        • Current GST Rates
        • Responsibilities of a GST-registered Business
        • Invoicing, Price Display and Record Keeping
        • e-Learning course Overview of GST
        • e-Learning Videos on GST
      • GST Rate Change
        • GST Rate Change
        • GST Rate Change for Businesses
        • GST Rate Change for Consumers
      • GST Registration/Deregistration
        • GST Registration/Deregistration
        • Do I Need to Register for GST
        • Factors to Consider Before Registering Voluntarily for GST
        • Applying for GST Registration
        • Applying for exemption from GST registration
        • Applying for special GST registration (Group registration and Divisional registration)
        • Cancelling GST Registration
        • Guarantee
        • Voluntary Disclosure for Wrongful Collection of GST
      • Charging GST (Output Tax)
        • Charging GST (Output Tax)
        • When to Charge Goods and Services Tax (GST)
        • When to charge 0% GST (Zero-rate)
        • When is GST not charged
        • Common scenarios - Do I charge GST
        • When to Report Supplies in GST Returns
        • Foreign Currency Transactions
      • Claiming GST (Input Tax)
        • Claiming GST (Input Tax)
        • Conditions for Claiming Input Tax
        • Importing of Goods
        • Claiming Input Tax in the Right Accounting Period
        • Claiming Input Tax Incurred to Make Exempt Supplies
        • Claiming GST Incurred Before GST Registration/Incorporation
        • Paying Suppliers After Claiming GST
        • Common scenarios - Do I claim GST
      • GST and Digital Economy
        • GST and Digital Economy
        • GST on Imported Services
        • GST on Imports of Low-Value Goods
      • Filing GST
        • Filing GST
        • Overview of GST e-Filing Process
        • Completing GST returns
        • Correcting Errors Made in GST Return (Filing GST F7)
        • Due Dates and Requests for Extension
        • Late filing or non-filing of GST Returns (F5/F8)
        • Check Status of GST Return
        • Check Acknowledgements / Correspondence / Notices
      • GST Payments/Refunds
        • GST Payments/Refunds
        • How to Pay
        • Experiencing Difficulties in Paying Your Tax?
        • Late payment or non-payment of GST
        • Refunds
        • Check Account Summary / Payments
        • Revising Estimated Assessment
      • Consumers
        • Consumers
        • Tourist Refund Scheme
        • Buying from a GST-registered business
        • Consumers Importing Goods into Singapore
        • Travellers bringing goods into Singapore
        • Purchasing Remote Services from Overseas Service Providers
        • GST on Imported Low-Value Goods
        • Checking if a business is GST-registered
      • Specific Business Sectors
        • Specific Business Sectors
        • Advertising
        • Aerospace and Aviation
        • Air and Sea Containers
        • Auction
        • Biomedical
        • Bunkering
        • Charities and Non-Profit Organisations
        • Construction
        • Consultancy and Professional Services
        • Digital Payment Tokens
        • e-Commerce
        • Energy
        • Finance
        • Gold Jewellery
        • Hotel and Food & Beverage
        • Logistics and Freight Forwarding
        • Manufacturing
        • Marine and Shipping
        • Motor Trade
        • Pawnbroking
        • Real Estate
        • REITs and Registered Business Trusts
        • Retail
        • Telecommunications
        • Travel
        • Carbon Credits
      • General GST Schemes
        • General GST Schemes
        • Cash Accounting Scheme
        • Discounted Sale Price Scheme
        • Gross Margin Scheme
        • Hand-Carried Exports Scheme (HCES)
        • Import GST Deferment Scheme (IGDS)
        • Major Exporter Scheme (MES)
        • Tourist Refund Scheme (for retailers)
        • Zero GST (ZG) Warehouse Scheme
      • Industry-Specific GST Schemes
        • Industry-Specific GST Schemes
        • Approved Contract Manufacturer and Trader (ACMT) Scheme
        • Approved Import GST Suspension Scheme (AISS) (For Aerospace Players)
        • Approved Marine Customer Scheme (AMCS)
        • Approved Marine Fuel Trader (MFT) Scheme
        • Approved Refiner and Consolidator Scheme (ARCS)
        • Approved Third Party Logistics (3PL) Company Scheme
        • Specialised Warehouse Scheme (SWS)
      • Getting It Right
        • Getting It Right
        • Wrongful Collection of GST by GST-registered persons
        • Voluntary Compliance Initiatives
        • Voluntary Disclosure of Errors for Reduced Penalties
        • GST Audits by IRAS
        • Object to Audit Assessment
        • Tax Evasion or Fraud
        • Tax Governance and Tax Risk Management
      • Other Services
        • Other Services
        • Notifying IRAS of Changes
        • Changing GST Accounting Periods
        • Advance Ruling System for GST
    • Stamp Duty
      • Stamp Duty
      • For Property
        • For Property
        • Basics of Stamp Duty for Property
        • Buying or Acquiring Property
        • Selling or Disposing Property
        • Renting a Property
        • Paying Stamp Duty
        • Appeals, Refunds, Reliefs and Remissions
        • Getting it right
        • Other Services
      • For Property-Holding Entities ('PHE')
        • For Property-Holding Entities ('PHE')
        • Basics of Stamp Duty for Property-Holding Entities
        • Buying or Acquiring Property-Holding Entities
        • Selling or Disposing Property-Holding Entities
        • Paying Stamp Duty
        • Claiming Refunds
        • Getting it right
        • Other Services
      • For Shares
        • For Shares
        • Basics of Stamp Duty for Shares
        • Mortgaging Shares
        • Buying or Acquiring Shares
        • Paying Stamp Duty
        • Claiming Refunds, Reliefs and Remissions
        • Getting it right
        • Other Services
    • International Tax
      • International Tax
      • International Tax Agreements Concluded by Singapore
        • International Tax Agreements Concluded by Singapore
        • List of DTAs, Limited DTAs and EOI Arrangements
        • Exchange of Information Arrangements
        • Multilateral Convention on Mutual Administrative Assistance in Tax Matters
        • Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting
      • Common Reporting Standard (CRS)
        • Common Reporting Standard (CRS)
        • CRS Overview and Latest Developments
        • CRS Registration and Deregistration
        • CRS Filing
        • Getting It Right - CRS Compliance
        • Basic information for account holders of Financial Institutions
      • Country-by-Country Reporting (CbCR)
      • Foreign Account Tax Compliance Act (FATCA)
        • Foreign Account Tax Compliance Act (FATCA)
        • FATCA Overview and Latest Developments
        • FATCA Registration and Deregistration
        • FATCA Filing
        • FATCA Compliance
        • Basic information for account holders of Financial Institutions
      • Transfer Pricing
      • Dispute Prevention and Resolution
        • Dispute Prevention and Resolution
        • Mutual Agreement Procedure and Arbitration
        • Advance Pricing Arrangements (APAs)
        • International Compliance Assurance Programme (ICAP)
      • Singapore's Competent Authorities for International Tax Agreements
      • List of DTAs, Limited DTAs and EOI Arrangements
    • Withholding Tax
      • Withholding Tax
      • Basics of Withholding Tax
        • Basics of Withholding Tax
        • Overview of Withholding Tax (WHT)
        • Types of Payment and Withholding Tax (WHT) Rates
      • Payments to Non-Resident Company
        • Payments to Non-Resident Company
        • Payments that are Subject to Withholding Tax
        • Payments that are Not Subject to Withholding Tax
      • Payments to Non-Resident Director
        • Payments to Non-Resident Director
        • Board Director
        • Tax Obligations for Non-Resident Director
        • Remuneration of Non-Resident Director
        • Tax Refund for Resident Director
      • Payments to Non-Resident Professional (Consultant, Trainer, Coach,etc.)
        • Payments to Non-Resident Professional (Consultant, Trainer, Coach,etc.)
        • Non-Resident Professional
        • Tax Obligations for Non-Resident Professional
        • Treatment of Income for Non-Resident Professional
        • Non-Resident Professional vs. Employee
        • Tax Treaties and Non-Resident Professional
        • Non-Resident Arbitrator
        • Non-Resident Mediator
        • Tax Refund for Resident Professional
      • Payments to Non-Resident Public Entertainer (Artiste, Musician, Sportsman,etc.)
        • Payments to Non-Resident Public Entertainer (Artiste, Musician, Sportsman,etc.)
        • Non-Resident Public Entertainer
        • Tax Obligations of Non-Resident Public Entertainer
        • Treatment of Income for Non-Resident Public Entertainer
        • Withholding Tax Calculations for Non-Resident Public Entertainer
        • Exemptions of Income for Non-Resident Public Entertainer
        • Tax Refund for Resident Public Entertainer
      • Withdrawal from Supplementary Retirement Scheme (SRS) Account (Foreigners & PRs)
        • Withdrawal from Supplementary Retirement Scheme (SRS) Account (Foreigners & PRs)
        • Tax Obligations for SRS Withdrawal
        • Calculating Withholding Tax
      • Withholding Tax Filing
        • Withholding Tax Filing
        • Withholding Tax (WHT) Filing and Payment Due Date
        • Claim of Relief under the Avoidance of Double Taxation Agreement (DTA)
        • Common Errors Made by Payers
        • How to File
        • Making amendment after filing/ claiming refund
      • Withholding Tax Payments
        • Withholding Tax Payments
        • How to Pay
        • Late payment or non-payment of Withholding Tax (WHT)
        • Confirmation of Payment (CP)
        • Tax Refund
      • Withholding Tax Reporting Compliance
        • Withholding Tax Reporting Compliance
        • Voluntary Disclosure of Errors for Reduced Penalties
        • Tax Evasion or Fraud
    • Other Taxes
      • Other Taxes
      • Trusts
      • Gambling Duties
        • Gambling Duties
        • Basics of Gambling Duties
        • Betting, Lotteries and Sweepstakes
        • Gaming Machines, Tombola, Continuous Lucky Draw and Single/Scheduled Lottery
      • Casino Tax
        • Casino Tax
        • Filing & Paying Casino Tax
        • Income Tax Treatment for International Market Agents & Representatives
        • Computing Casino Tax (Gross Gaming Revenue, Casino Tax Rates)
      • Charities
        • Charities
        • Charities / IPCs & Taxes
        • Tax Deduction Scheme for Grantmakers
        • Donations & Tax Deductions
      • Bodies of Persons
        • Bodies of Persons
        • Overview of bodies of persons & income that is taxable 
        • Filing Clubs and Associations Income Tax
        • After Filing Form P1
        • Paying Taxes or Claiming Refunds
        • FAQs
      • Estate Duty
        • Estate Duty
        • Estate Duty
        • Estate Duty Glossary
        • FAQs
        • Estate Duty Forms
        • Getting Estate Duty Clearance
        • How to Calculate Estate Duty
        • Late Payment or Non-Payment of Estate Duty
        • Trust (including income from Estates)
        • How to Pay
      • Income Tax of Estate/ Trust
        • Income Tax of Estate/ Trust
        • Estate/Trust Income - What to Declare
        • Difference Between Estate Duty & Income Tax of An Estate
        • Keeping Proper Records & Accounts
      • Guide for Administrators or Trustees
        • Guide for Administrators or Trustees
        • Estate Under Administration or Held in Trust
        • Notifying Beneficiaries to Declare Share of Income
        • Distributing Income to Non-Resident Beneficiaries
      • Working Out Estate/ Trust Income Tax by Trustee and Beneficiary
        • Working Out Estate/ Trust Income Tax by Trustee and Beneficiary
        • Calculating Estate Income Tax
        • Calculating Trust Income Tax
      • Filing Estate/ Trust Income Tax (Form T)
        • Filing Estate/ Trust Income Tax (Form T)
        • Form T
        • Late filing or non-filing of Income Tax Returns (Form T)
      • Paying Estate/ Trust Income Tax
        • Paying Estate/ Trust Income Tax
        • Object to Income Tax Bill
        • How to Pay
        • Late Payment or Non-Payment of Trust Income Tax
        • Refunds
  • Schemes
    • Schemes
    • Government Schemes
      • Government Schemes
      • Small Business Recovery Grant (SBRG)
      • Progressive Wage Credit Scheme (PWCS)
        • Progressive Wage Credit Scheme (PWCS)
        • PWCS Glossary
      • Wage Credit Scheme (WCS)
        • Wage Credit Scheme (WCS)
        • WCS Glossary
      • Jobs Support Scheme (JSS)
        • Jobs Support Scheme (JSS)
        • Specific Industries in Tiers and SSIC Codes
      • Self-review for Eligibility of JGI
      • Jobs Growth Incentive (JGI)
      • SkillsFuture Enterprise Credit
      • Senior Employment Credit (SEC), Enabling Employment Credit (EEC) and CPF Transition Offset (CTO)
      • Government Cash Payout (2021 Rental Support Scheme)
      • MediShield Life (MSHL)
    • Corporate Income Tax
      • Corporate Income Tax
      • Business and IPC Partnership Scheme
      • Double Tax Deduction for Internationalisation Scheme
      • Productivity and Innovation Credit (PIC) Scheme
    • GST
      • GST
      • General GST Schemes
        • General GST Schemes
        • Cash Accounting Scheme
        • Discounted Sale Price Scheme
        • Gross Margin Scheme
        • Hand-Carried Exports Scheme (HCES)
        • Major Exporter Scheme (MES)
        • Tourist Refund Scheme (TRS) for Businesses
        • Zero GST (ZG) Warehouse Scheme
      • Industry-Specific GST Schemes
        • Industry-Specific GST Schemes
        • Approved Contract Manufacturer and Trader (ACMT) Scheme
        • Approved Import GST Suspension Scheme (AISS) (For Aerospace Players)
        • Approved Marine Customer Scheme (AMCS)
        • Approved Marine Fuel Trader (MFT) Scheme
        • Approved Refiner and Consolidator Scheme (ARCS)
        • Approved Third Party Logistics (3PL) Company Scheme
        • Specialised Warehouse Scheme (SWS)
    • Individual Income Tax
      • Individual Income Tax
      • Angel Investors Tax Deduction Scheme (AITD)
      • Not Ordinarily Resident (NOR) Scheme
      • SRS contributions and tax relief
      • Tax on SRS withdrawals
      • Withholding Tax on SRS
  • Digital Services
    • Digital Services
    • Employees
      • Digital Services for Employees
      • IRAS Bot
      • View Individual Tax Notices
      • View Account Summary
      • View Filing Status
      • Check Employment Income Status
      • View/ Cancel Payment Plan
      • File Income Tax Return 
      • myTax Mail
      • Update Contact Details
      • View Late Filing Fee/ Summons
      • Pay Taxes
      • Apply for Payment Plan
      • Update Notice Preferences (Individuals)
      • View more
    • Self-Employed
      • Digital Services for Self-Employed
      • View Individual Tax Notices
      • View PIC Scheme Notices
      • View Account Summary
      • View Filing Status
      • Check Employment Income Status
      • View/ Cancel Payment Plan
      • File Income Tax Return
      • myTax Mail
      • Update Contact Details
      • View Late Filing Fee/ Summons
      • Pay Taxes
      • Apply for Payment Plan
      • View more
    • Intermediaries of Self-Employed Persons (Taxi Drivers/Private-Hire Car Drivers)
      • Digital Services for Intermediaries of Self-Employed Persons (Taxi Drivers/Private-Hire Car Drivers)
      • Submit Income Records for Self-Employed
      • View more
    • Employers
      • Digital Services for Employers
      • Tips on e-Filing
      • Tax Clearance - View Tax Clearance Notices/Letters
      • Tax Clearance - File Form IR21
      • Tax Clearance - View Form IR21 Records
      • Submit Employment Income Records
      • Register for AIS
      • Search AIS Organisation
      • myTax Mail
      • Jobs Support Scheme – Eligibility Search
      • Jobs Support Scheme – Breakdown Request
      • Senior Employment Credit, Enabling Employment Credit and CPF Transition Offset – Eligibility Search and Breakdown Request
      • Jobs Growth Incentive – Breakdown Records
      • View more
    • Partnerships
      • Digital Services for Partnerships
      • File Partnership Income Tax Return Form P
      • Request Extension of Time to File
      • Apply for PIC Cash Payout
      • View PIC Cash Payout Application Status
      • View PIC Scheme Notices
      • View Partnership Tax Filing Status
      • View Partnership Tax Notices
      • Update Partnership Contact Details
      • Request Penalty Waiver/ Extension of Time to File
      • View more
    • Companies/ Tax Agents
      • Digital Services for Companies/ Tax Agents
      • View Notices/ Letters - PIC Scheme
      • View Account Summary
      • View/ Cancel Payment Plan
      • View Notices/ Letters - Corporate Tax
      • Access Tax Agent e-Services
      • Pay Taxes
      • Apply for Payment Plan
      • Update Notice Preferences (Businesses)
      • View Corporate Tax Filing Status
      • Access Company Dashboard
      • File Form C-S/ Form C-S (Lite)
      • Update Corporate Profile/ Contact Details
      • View more
    • Commission-paying Organisations
      • Digital Services for Commission-paying Organisations
      • e-Submission of Commission
      • Submit Commission Records
      • View more
    • Property Owners
      • Digital Services for Property Owners
      • View Property Tax Notices
      • View/ Cancel Payment Plan
      • myTax Mail
      • Update Contact Details
      • View Property Dashboard
      • Pay Taxes
      • Apply for Payment Plan
      • Update Notice Preferences (Businesses)
      • Update Notice Preferences (Individuals)
      • Check Property Tax Balance
      • View Account Summary
      • Apply/ Withdraw for Owner-Occupier Tax Rates
      • View more
    • Property Professionals
      • Digital Services for Property Professionals
      • Check Annual Value of Property
      • Update Property Ownership
      • View more
    • GST
      • Digital Services for GST
      • View Account Summary
      • View/ Cancel Payment Plan
      • myTax Mail
      • GST Registered Business Search
      • Notices/ Letters
      • File GST Return/ Edit Past Return
      • Pay Taxes
      • Apply for Payment Plan
      • Update Notice Preferences (Businesses)
      • Retrieve GST Returns/ Assessments for ASK Review
      • View GST Filing Status
      • Update GST Contact Details
      • View more
    • Stamp Duty
      • Digital Services for Stamp Duty
      • Stamping: Lease/ Tenancy
      • Stamping: Mortgage
      • Stamping: Sale and Purchase (For Sellers)
      • Stamping: Sale and Purchase (For Buyers)
      • Stamping: Shares
      • Requests: Amendment to Stamp Certificate
      • Stamping: Others - Declaration of Trust/ Trust Deed
      • Requests: Apply for Assessment/ Appeal/ Remission
      • Stamping: Additional Stamp Duty
      • Stamping: Exemptions & Remissions - Transfer of HDB Flat within Family
      • Stamping: Others - Other Transfer (Dutiable documents)
      • Requests: Object to an Assessment
      • Stamp Duty Chatbot
      • View more
    • Withholding Tax
      • Digital Services for Withholding Tax
      • File S45 Form
      • Retrieve S45 Form (Draft)
      • Approve S45 Form
      • Submit S45 Form
      • View/Amend S45 Form
      • View S45 GIRO Plan
      • View S45 COR Status
      • View S45 Notices/Letters
      • Update Notice Preferences (Businesses)
      • Update Notice Preferences (Individuals)
      • View more
    • Automatic Exchange of Information (CRS and FATCA)
      • Digital Services for Automatic Exchange of Information (CRS and FATCA)
      • Apply for CRS Registration
      • Check CRS Registration Status
      • View/ Update FI AEOI Profile
      • View/ Update My Profile
      • View AEOI Contact Details
      • View/ Edit Trustee-Documented Trusts
      • View AEOI e-Service Transaction History
      • Submit CRS or FATCA Return
      • View Submitted Financial Account Report
      • View AEOI Notices/ Letters
      • Email Us on AEOI matters
      • Apply to deregister for AEOI
      • View more
    • Others
      • Digital Services for Others
      • Corppass
      • Institutions of a Public Character and Grantmakers
      • Government Payout Schemes
      • IRAS Digital Notices
      • Singpass Foreign user Account (SFA) for Foreign Individuals
      • myTax Portal Technical FAQ
      • View Corporate Tax Notices (for Companies)
      • View Partnership Tax Notices (for Partnerships)
      • View Individual Tax Notices (for Sole-Proprietors)
      • View Individual Tax Notices
      • Download Donation Application & Submit Records
      • BIPS Service Giving Declaration Form Submission
      • Update Notice Preferences (Individuals)
      • Update Notice Preferences (Businesses)
      • View more
  • Digital Collaboration
    • Digital Collaboration
    • For Businesses/ Employers
    • For Tax Agents
      • For Tax Agents
      • #SeamlessFilingFromSoftware (#SFFS) for Tax Agents
      • External Value Network (EVN)
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  • Remission of ABSD (Trust)

Common Stamp Duty Remissions and Reliefs for Property

  • Terminated Leases
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  • Remission of ABSD (Trust)

Remission of ABSD (Trust)

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Remission of ABSD (Trust) may be applicable where the remission conditions under the Stamp Duties (Trusts for Identifiable Individual Beneficiary) (Remission of ABSD) Rules 2022 are met.
On this page:
  • Conditions for Remission
  • Link to legislation
  • How to apply
  • FAQs

Where remission of ABSD (Trust) has been granted, part or all of the ABSD (Trust) of 35% paid will be refunded.

The amount refunded will be based on the difference between (i) the ABSD (Trust) paid and (ii) the ABSD payable based on the highest profile of the beneficial owners of the residential property in the transaction.

All applications for the remission must be made within 6 months after the date of execution of the instrument. 

Conditions for Remission

  1. The residential property is held on trust for identifiable individual beneficiaries only

Identifiable Individual Beneficiary

An identifiable individual beneficiary of a trust for whom an estate or interest in residential property is held on trust, is an individual —

(a) who is identified in the declaration of trust as a beneficiary of the property whether solely or together with another; and

(b) who, because of the trust, has beneficial ownership of the property (whether solely or together with another) that is not, under the terms of the trust, revocable, variable, or subject to any condition subsequent,

but excludes an individual who is entitled to any estate or interest in property in remainder or reversion.

The following are not considered to be an identifiable individual beneficiary:

(a) an individual who has not been born on the date of declaration of the trust;

(b) an individual who is entitled only to the income of the property under the trust;

(c) an individual whose estate or interest in the property under the trust is a contingent or discretionary interest, or who becomes entitled to an estate or interest in the property only upon revocation of the trust.

2. ABSD (Trust) of 35% has been paid

3. The application is made within 6 months after the date of execution of the instrument

Link to legislation 

Please click here to access the remission rules.

How to apply

You can apply for the remission via the e-Stamping Portal using the following steps: 

 

  1. Select "Request"
  2. Select "Apply for Assessment / Appeal"
  3. Select "Assessment (including remission and penalty)" under New Application.

If the document has already been stamped, select "Yes" and enter the Document Ref No. Click "Continue" to fill in the rest of the details and submit the online form thereafter.

If the document has not been stamped, please stamp the document and make payment of 35% ABSD (Trust) first before applying for remission as per the steps above. To stamp the document, select "Stamping" > "Other Form" > Select the relevant form and fill in the details. 

 

If you are applying for more than one remission, please specify all applicable remissions. You will have to login with your SingPass (under Individual or Business user). 

 

Please also submit the following supporting documents with your application: 

  1. Copy of the trust instrument 
  2. Copy of the Option to Purchase / Sale and Purchase Agreement (if applicable) 
For successful applicants, the refund will be made to the party liable for payment of stamp duty. 

FAQs

What is the date of document for the purposes of stamp duty?

For the purposes of stamp duty, the date of document of the purchase instrument will be taken as the date on which the document is signed (i.e. the Acceptance to Option to Purchase/Sale and Purchase Agreement should be signed on the date it is to be executed and delivered to the Vendor). The trust instrument should also be signed, sealed and delivered on the day it is to be executed.

I executed an Acceptance to Option to Purchase on 15 Jun 2022 to purchase a residential property on trust for my wife (Singapore citizen), who currently also owns one other residential property. I had also executed a declaration of trust to state that I am holding the property on trust for my wife who is the sole beneficial owner of this trust property. If the beneficial ownership has vested in my wife, and there are no other provisions in the trust to revoke, amend or which subject my wife’s beneficial ownership in the trust property to any conditions, will I be eligible for remission of ABSD (Trust)?

ABSD (Trust) of 35% is payable as the property was purchased on trust for your wife. You will need to make upfront payment of ABSD (Trust) before making a remission application where IRAS will assess whether the refund conditions are met.

 

For this case, if you apply within the deadline with the necessary supporting documents, you will be eligible for remission of the difference between the ABSD (Trust) amount paid and the ABSD payable had your wife purchased the property directly in her name. As this is the second residential property owned by your wife, the total amount of ABSD refunded will be 18% (being 35% - 17%).

I executed an Acceptance to Option to Purchase on 20 Jun 2022 to purchase a condominium unit on trust for child who is a minor (Singapore citizen). This is my child’s first residential property. I also executed a declaration of trust to state that I am holding the condominium unit on trust for my child, who is the sole beneficial owner of this trust property. If the beneficial ownership has vested in my child, and there are no other provisions in the trust to revoke, amend or which subject my child’s beneficial ownership in the trust property to any conditions, will I be eligible for remission of ABSD (Trust)?

ABSD (Trust) of 35% is payable as the property was purchased on trust for your child. You will need to make upfront payment of ABSD (Trust) before making a remission application where IRAS will assess whether the refund conditions are met.

 

For this case, if you apply within the remission deadline with the necessary supporting documents, you will be eligible for remission of the difference between the ABSD (Trust) amount paid and the ABSD payable had your child purchased the property directly in his/her name. As this is the first residential property owned by your minor child, the total amount of ABSD refunded will be the full 35% ABSD that had been paid earlier.

I executed a declaration of trust on 9 May 2022 to declare that I am holding a condominium unit on trust for my children, Amy and Ben. The trust states that Amy beneficially owns a 50% share of the condominium unit, while Ben is only entitled to the other 50% if he graduates from university. I paid the ABSD (Trust) of 35% when the declaration of trust was executed. Will I be eligible for remission of ABSD (Trust)?

No, you will not be eligible for remission of ABSD (Trust). One of the conditions for remission is that the beneficial owners of the trust property consist of identifiable individual beneficiaries only. As Ben’s interest in the property is contingent on his graduation from university, he is not an identifiable individual beneficiary and hence this condition is not met. As such, no remission will be granted. 

I executed a declaration of trust on 9 May 2022 to declare that I am holding a condominium unit on trust for my minor child whose beneficial interest in the property will only vest at the age of 21. Will I be eligible for remission of ABSD (Trust)?

No. The remission condition is based on vested beneficial ownership at the time the property is transferred into the trust. Deferred beneficial ownership that would only vest in the future will not meet the condition for ABSD (Trust) remission. 

I have submitted an application for remission of ABSD (Trust). How long is the processing time and when can I expect to receive the refund if my application is approved?

Most applications will be processed within 2 months from the date of complete information being submitted. Where the application has been approved, the refund will be made within 1 month after approval.

I executed an Acceptance to Option to Purchase on 1 Jul 2022 to purchase an apartment and executed a Declaration of Trust to declare that I am holding the property on trust for my child. Can I submit an application for upfront remission instead of paying 35% ABSD and then obtaining a refund?

No, it is a condition under the Stamp Duties (Trusts for Identifiable Individual Beneficiary) (Remission of ABSD) Rules 2022 that the ABSD chargeable on the instrument has to be paid before remission can be granted.

 

As such, we are unable to grant any remission of ABSD before ABSD (Trust) is paid.

 

Please stamp the instrument within 14 days after the execution of the document if it is executed in Singapore or, if first executed outside Singapore, within 30 days after it has been first received in Singapore, and make payment before the due date to avoid incurring late stamping penalties.

If I intend to execute a Will stating that my residential property will be held on trust for my child upon my death, will this trust be subject to ABSD (Trust) of 35%?

ABSD (Trust) applies to the transfer of any residential property into a living trust on or after 9 May 2022. A living trust is defined as one that is created by a person (settlor) within his or her lifetime and does not include a testamentary trust (i.e. a trust that is made using a Will and which takes effect after the settlor’s death).

 

As the trust in this scenario is a testamentary trust, hence ABSD (Trust) does not apply.

Inland Revenue Authority of Singapore

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Last updated on 17 January 2023