Stamp Duties Act (Amendment of Fourth and Fifth Schedules) Notification 2012 comes into operation on 1 April 2012

4 April 2012

Published on 30 March 2012, the Notification amends the adjudication fees (Fourth Schedule of the Stamp Duties Act) for:

  • a transfer of the undertaking or shares in respect of a scheme for reconstruction of company or companies, an amalgamation of companies, or a transfer, conveyance or assignment of beneficial interest in assets between associated entities (item 1),
  • a conversion of a firm or private company to a limited liability partnership (item 2), and
  • an acquisition of ordinary shares in a company under section 15A (item 1A)

from $150 to $165,

  • Any immovable property that is sold under Part IV of the Housing and Development Act (Cap. 129) from $30 to $33, and
  • All other immovable property to $99, from $90.

This Notification also revises the Fifth Schedule to the Stamp Duties Act whereby the valuation fees:

  • for any immovable property sold under Part IV of the Housing and Development Act (Cap. 129) is revised from $30 to $33 (item 1)
  • is revised from $105 to $115 for any other immovable property where there is no difference between the certified value under section 37(3) and the value on which, in the opinion of the applicant for the adjudication, the duty was chargeable (item 2a) and if there is such a difference on the excess where the difference is in excess of $100,000, the fees will be 0.25%, or $115 for each certificate of valuation, whichever is the higher (item 2(b)(iii)).

Source: e-Gazette