Stamp Duty On Lease Agreement Singapore

In the case of a lease in Singapore, for all real estate, whether you rent a warehouse/factory, industrial park, HDB, condo or other types of real estate, stamp duty is the responsibility of the tenant. The amount of stamp duty is based on the agreed amount of rent or market rental price, depending on the highest amount and the duration of the rental agreement. There is no instalment payment for stamp duty; It must be paid in full. The tenants are, rightly, the ones who pay stamp duty. The party that is required to pay stamp duty is usually stated in the agreements. For example, if you are renting real estate, the rental agreement should indicate who must pay the stamp duty. Source: IRAS. Stamp duty must be paid to the Domestic Revenue Authority of Singapore (IRAS), which is responsible for collecting tax in Singapore. The lessor or the authorities may take action against a tenant who does not pay stamp duty on time or ignores payment. 1.

Modification of the use of the good without additional payment2. Removal of restrictions in the rental agreement without additional payment3. Modification of rental conditions that do not affect the duration of the rental and rental, for example.B. Addition of a renewal option If the tenant pays the stamp duty late within 3 months, he must pay a penalty of 10 USD or an amount equal to the stamp duty to be paid (whichever is greater). .