You are required to stamp a document before you sign it. However, if you have signed a document and have stamped it (together with payment of the duty) 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.
Consequences for late payment or non-payment of Stamp Duty
IRAS may take the following actions if you fail to pay by the due date:
- Impose penalties
- Appoint agents like your bank, employer, tenant or lawyer (handling the sale of any of your property) to recover the overdue duty
- Issue a Travel Restriction Order (TRO) to stop you from leaving Singapore
- Take legal action
The above list is not exhaustive.
You are required to pay the Stamp Duty by 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.
IRAS’ Voluntary Disclosure Programme
The penalty applicable for late payment or underpayment may be reduced if the matter is voluntarily disclosed to IRAS. The reduced penalty is 5% of the late payment or underpayment for each year of the non-compliance calculated on a daily basis. The reduced penalty only applies for voluntary for Voluntary disclosures which qualify under IRAS’ Voluntary Disclosure Programme (PDF, 477KB).
Appointment of agents
If the duty remains unpaid, IRAS may appoint agents like your bank, tenant, lawyer or other 3rd parties with money due to you to recover the duty owing.
When your bank is appointed as agent, you will experience inconvenience in using your bank accounts (e.g. being unable to access your bank account) until you have fully paid your Stamp Duty.
Requests made for release of your banks from the agent appointment after 12pm on weekdays will only be processed on the next working day while requests cannot be processed on Saturdays, Sundays and Public Holidays.
Agents will be released from the appointment only after the Stamp Duty and penalties have been paid.
If a Travel Restriction Order (TRO) is issued, you cannot travel out of Singapore until you pay the Stamp Duty and penalties in full.
A Notification for Release of TRO will be mail to you within 10 days after your payment has been received to facilitate your travel at the immigration checkpoints when you leave Singapore.
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.