05
May
2019
|
10:21
Europe/Amsterdam

What is stamp duty?

Assoc Prof (Practice) Simon Poh from NUS Business School explained that stamp duty is an indirect tax imposed primarily on documents relating to the transfer of immovable properties and unlisted shares in Singapore which is ordinarily borne by the buyer and computed based on certain prescribed rates applied to the consideration or market value of the relevant asset, whichever is higher. He also highlighted its importance and how the term can be used.