Skip to main content

Government officials will never ask you to transfer money or disclose bank log-in details over a phone call.

Call the 24/7 ScamShield Helpline at 1799 if you are unsure if something is a scam.

Ministry of Finance (MOF)
  1. Home
  2. News & Resources
  3. Newsroom
  4. Public Consultation on Draft Stamp Duties (Amendment) Bill 2014
Public Consultations

Public Consultation on Draft Stamp Duties (Amendment) Bill 2014

7 July 2014

This article has been migrated from an earlier version of the site and may display formatting inconsistencies.

INTRODUCTION

  1. The Ministry of Finance is seeking public feedback on the draft Stamp Duties (Amendment) Bill 2014.

  2. We invite you to comment on the proposed policy changes and drafting of legislative amendments which give effect to these policy changes. Your views will help us improve the clarity of the legislative amendments and help ease compliance.

SCOPE OF THE CONSULTATION EXERCISE

  1. The draft Stamp Duties (Amendment) Bill 2014 provides for three changes to the Stamp Duties Act. The first two involve changes to existing stamp duty administration that arise from ongoing reviews of the stamp duty system. The third is a consequential amendment arising from the implementation of the Seller’s Stamp Duty (SSD) for industrial properties, introduced as part of the property market cooling measures last year. The changes are listed below:

  2. The summary table lists all the changes and explains the amendments to the Stamp Duties Act and related amendments.

GUIDELINES

  1. We would appreciate your full support and participation to ensure that the consultation exercise is productive. Respondents are requested to observe these guidelines:

  2. This draft legislation is released only for the purpose of consultation and should therefore not be used for individual or business decisions as it does not represent the final legislation or regulations. All comments received during the consultation exercise will be reviewed thoroughly and, if accepted, will be incorporated into the Bill for introduction in Parliament.

PERIOD OF CONSULTATION

  1. The draft Stamp Duties (Amendment) Bill 2014 is available for public consultation from 7 July 2014 to 25 July 2014. We regret that comments received after 25 July 2014 will not be considered for incorporation into the final Bill.

FEEDBACK CHANNEL

  1. We encourage all interested participants to submit your comments via our online submission form. The online submission form is the easiest and quickest way for your comments to reach us. You can also send us your comments, using the prescribed template, through:

SUMMARY OF RESPONSE

  1. We will publish a summary of the main comments we receive on the Ministry Of Finance’s website, together with our responses, by September 2014. The identity of respondents will not be disclosed in the summary.

DOCUMENTS TO DOWNLOAD

  1. For further reference, please click here to download the relevant documents relating to this public consultation exercise.

###

[1] IRAS may selectively call for the original instrument when evaluating the claims for stamp duty refunds.

[2] If the document is executed outside Singapore, interest is imposed from the date on which the document was first received in Singapore.

Back to top