Where an instrument chargeable with stamp duty is not stamped before or within the time for stamping, such instrument may be stamped by the Collector, with a penalty, upon payment of the stamp duty. The penalty is to be imposed according to the following scale:
Length of Delay
Penalty
not exceeding 1 month
double the amount of stamp duty
exceeding 1 month but not exceeding 2 months
4 times the amount of stamp duty
in any other case
10 times the amount of stamp duty
The Collector may remit partly or wholly the penalty payable depending on individual circumstances of each case. In a voluntary disclosure case, if the delay is not deliberate, the Collector will normally adopt the following formula in calculating the reduced penalty, subject to a minimum sum of $500:
Reduced penalty = 14% x Stamp Duty Payable x No. of days delayed / 365 days
The penalty remission may be adjusted upward or downward depending on the special circumstances of a case. For example, the above formula does not apply to late stamping cases uncovered during inspection carried out by the Stamp Office (i.e. not a voluntary disclosure case). In addition, the penalty for a second or subsequent delay uncovered will be more severe.
You can write to request for remission of penalty with explanations of the delay and supporting evidence, where appropriate.
You may use the form below for application for remission of penalty.