17 Apr '17, 2pm

New: What is Buyer Stamp Duty and Additional Buyer Stamp Duty (ABSD)?

By PropertyNet.SG (guest contributor) Stamp duty is a tax on documents relating to the purchase or lease of a property. It is to be paid by the buyer within 14 days after the date of the document (e.g. Sale & Purchase Agreement, Tenancy Agreement) if the document is signed in Singapore. If the document is signed overseas, it has to be paid within 30 days after the date of its receipt in Singapore. It is an offence to use a document for which Stamp Duty has not been paid on. It is also important to note that only a document where Stamp Duty is paid can be admitted as evidence in the court in cases of disagreements. More details can be found here: IRAS: What is Stamp Duty? So what is Buyer’s Stamp Duty? Buyer’s Stamp Duty is tax paid on the acceptance of the Option to Purchase (OTP) or Sale and Purchase Agreements (S&P). These documents are prepared and signed when you buy o...

Full article: https://www.propwise.sg/what-is-buyer-stamp-duty-and-addi...

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