Lease Expired Stamp Duty

If the landlord and tenant entered into a written tenancy agreement that is not stamped, the Stamp Office of the Inland Revenue Department will collect stamp duty. The longer the stamp duty is overdue, the higher the fine will be, which is calculated in multiples of the stamp duty. A tenancy agreement that is not stamped cannot be submitted to the Land Registry for registration, nor can it be submitted to the court for testimony or evidence in case of tenancy disputes. However, if the case is due to voluntary disclosure or unintentional delay, you can apply in writing to the Commissioner of Stamp Taxation for exemption or cancellation of fines. However, reasons for overdue must be given. The exemption of fines is usually calculated according to a specific formula. In addition, the tenancy agreement must be stamped within 30 days after it becomes effective. The stamp duty will be calculated based on the rent and the lease term of the tenancy agreement. The persons responsible for stamping include the landlord, tenant and other executers.

The above information is for reference only. If in doubt We welcome your tax inquiries