IRAS e-Stamping Service in Singapore
e-Stamping gives users the convenience of stamping documents from anywhere. For business users who are e-stamping their documents, you must register for an e-Stamping account via the IRAS e-Stamping portal before registering for Corppass e-stamping services. For e-stamping assistance, please feel free to reach us.
What is stamp duty?
Stamp duty is a tax on documents that affect a transfer of an interest in any immovable property ("property") in Singapore, and any stock and shares.
When do you need to pay stamp duty?
You are required to e-Stamp a document before you sign it. However, if you have signed a document and e-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
What happens if you are late for stamping?
If you e-Stamp beyond the deadline prior to any audit checks by IRAS:
A minimum penalty of $10 or 5% per annum calculated on a daily basis on the stamp duty payable, whichever is greater, will be imposed on a document that is stamped within 3 months from the due date.
A minimum penalty of $25 or 5% per annum calculated on a daily basis on the stamp duty payable, whichever is greater, will be imposed on a document that is stamped after 3 months from the due date.
Source: IRAS website
If you are not so sure about e-stamping or related matters, reach us today for help!