This article is misleading. The rent of the space must also be stamped. Please read the IRAS website before publication. The landlord or the authorities may take action against a tenant who does not pay stamp duty on time or who ignores the payment. For late payments that do not exceed 3 months, a penalty of US$10 or an amount equal to the tax payable will be imposed, whichever is greater. 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.
(This also applies if you can negotiate well, the landlord can refund or pay the amount of stamp duty for you, but the payment should always be made in the name of the tenant). I simplified the statement in the article. Thank you very much for the indication and the manifestation! Have a nice day 🙂 The stamp rates are as follows (for every 250 $US or part of the average annual rent), applicable to annual rents above 1,000 $US: the additional rent subject to stamp duty would be 600 $US if this is not the case, the obligation for the tenant to make the stamp. It is advisable to inform him in order to provide proof in the form of a receipt once he has done so. The rental agreement is recognized by the authorities and has legally binding powers only if all relevant stamps and seals are in place and the stamp duty is duly paid. They signed the lease and paid the first month`s rent and deposit. Before you move into your new home, there is one thing you can do: stamp duty. In Singapore, a tenant must pay a tax (surprise!) when signing the lease, in addition to the monthly rent and deposit. Also known as stamp duty, it is payable if a tenant: For simplicity, we will look for formulas for the calculation of stamp duty for fixed rental contracts. There are also different methods of calculating stamp duty for premium leasing contracts, fixed-rate leases, leases with Novation or assignment, lease waiver, lease agreements with an increase in the rental price or longer rental periods, but we will take into account fixed-price rental agreements that are most often used to keep you confused. As a tenant of rental units in Singapore, your broker or lessor will most likely inform you that the right to rent must be paid by the government to the Inland Revenue Authority of Singapore (IRAS), the legal entity responsible for collecting taxes in Singapore.
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