This post is in furtherance to my previous post regarding transfer of shares.
Rate of stamp duty on transfer of shares
Stamp duty is chargeable @0.2% of higher of the following:
- Consideration for transfer of shares
- Net Asset Value(NAV) of the shares being transferred
Time limit for stamp duty payment
- If the share transfer form has been executed in Singapore– within 14 days from the date of the document
- If the document has been executed outside Singapore– within 30 days of the arrival of documents in Singapore
Calculation of Net Asset Value (NAV) of shares
- IRAS requires the last available balance sheet of the company (not more than 24 months old) to be used for calculation of stamp duty payable.
- However if the date of incorporation of the company is within last 18 months, IRAS accepts the issue price of shares as net asset value.
- NAV of all shares of the company is actually excess of total assets over total liabilities of the company. Practically you can divide the equity + retained earnings/accumulated losses with total no of shares to arrive at NAV per share.
- If the company has issued preference shares, valuation per shares as well as M&AA of the company will be required to be submitted to IRAS.
Please click here if you wish to download Stamp Duty Calculator excel utility.
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