Stamp Duties Act 1929 · 2021 Revised Edition · Part 2 · Provisions Applicable to Instruments Generally
6D. Electronic funds transfer of duty
Feedback & supportLast amended by an amending law of 2018.
A person using the E‑Stamping system may maintain an electronic banking facility with a bank to enable the transfer of funds from the person’s designated account with the bank to an account specified by the Commissioner.
E‑Stamping system
“E‑Stamping system” means the computer service mentioned in section 6B(1);
The Commissioner must, on issuing to a person a stamp certificate in respect of any instrument that is chargeable with duty, immediately deduct through electronic funds transfer the full amount of duty chargeable from the designated account of the person.
Commissioner
“Commissioner” means the Commissioner of Stamp Duties appointed under this Act;
Nothing in subsection (2) requires the Commissioner to deduct any money from the designated account of the person if the funds in that designated account are less than the full amount of duty chargeable on the instrument.
money
“money” includes all sums whether expressed in the currency of Singapore or in any other currency;