In Singapore, stamp duty is indeed required for tenancy agreements, regardless of whether an agent is involved or not. The purpose of stamp duty is to make the document legally valid and enforceable. When a tenant and landlord enter into a rental agreement, they must pay stamp duty to the Inland Revenue Authority of Singapore (IRAS). The amount of stamp duty depends on the rental amount and the lease term. Here's how it works:
1. **Tenant-Landlord Agreement (Without Agent):**
- Stamp duty is applicable.
- The tenant and landlord need to jointly file the tenancy agreement with IRAS within 14 days from the date of signing.
- The stamp duty is calculated based on the following formula:
- For residential properties: $$0.4% Xtimes total rent over the lease term
2. **Tenant-Landlord Agreement (With Agent):**
- Same as above, but if an agent is involved, they usually handle the stamp duty payment and filing on behalf of both parties.>> BUT TENANT PAY NORMALLY
3. **Tenant-Agent-Landlord Agreement:**
- If an agent facilitated the rental transaction, the stamp duty is typically borne by the tenant.
- The agent assists in filing the agreement with IRAS.
Remember to keep proper records of the stamped agreement, as it serves as evidence of the terms and conditions between the tenant and landlord. If you have any doubts or need further clarification, consider consulting a legal professional or contacting IRAS directly.
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