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.
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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:
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Within 14 days after signing the document if it is signed in Singapore or
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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:
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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.
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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!
