Which is excise tax?

The excise tax is a tax on the commercial and legal documents which record and take action on certain transactions. It is not a tax on transactions. Consequently, even if the transaction were fallen through, the excise tax is still payable on the document.

Not all the documents are ascribable with the duty. The excise tax is payable only on documents described in the first program with the act of excise taxes.

Since February 28, 1998, excise tax is payable only on documents concerning the real goods, transferable securities. Those include a sale or a mortgage of the real goods and the shares and a hiring of the real goods

When the date due take place does to press a document?

(i) In the 15 days after the date of the document if the document is carried out in Singapore; or

(ii) In the 30 days after the date of its receipt in Singapore if the document is carried out overseas

Who is exposed to pay the duty?

The contracting parts can mutually be appropriate among themselves as for which should support the duty. In the absence of agreement, the provisions of the Law of excise taxes would apply.

For example, in the case of an agreement of hiring, the duty on the original agreement is supported by the tenant and the owner will pay the duty on the double agreement.