Stamp duties on the sale of Singapore-incorporated company
shares in private mergers and acquisitions were traditionally
payable only at the point of transfer, which is effected via share
transfer forms. The Stamp Duties (Amendment) Act 2017 (No. 13 of
2017) changes this requirement, making stamp duties now payable on
the execution of a sale and purchase agreement or share transfer
form, whichever is executed first.
Previous Stamp Duty Obligations in Share Transfers
Section 22(1) of the Stamp Duties Act (Chapter 312, Singapore
Statutes), used to read:
(1) Every contract or agreement for the sale of
—
(a) any equitable estate or
interest in any property; or
(b) any estate or interest in
any property except property situated outside Singapore, and stock
or shares, shall be charged with the same ad valorem duty, payable
by the purchaser, as if it were an actual conveyance on sale of the
estate, interest or property contracted or agreed to be
sold.
