This morning, I chanced upon this Singapore 10-cent revenue stamp while looking through my old collection. A revenue stamp is often used to collect taxes on documents and licences. Businesses would purchase these stamps from the government, and stick them onto the document, such as contracts and agreements which can be tendered in court. Documents which are unstamped may therefore be deemed invalid by the government.
To prevent the reuse of such revenue stamps, they would then be cancelled, often using a simple pen stroke, using an inked stamp, or punching a hole. Higher denominations may include security features due to their high value, in order to prevent counterfeiting.
In Singapore, stamp duty is often imposed on documents relating to properties and shares by the Inland Revenue Authority of Singapore, more commonly known as IRAS. Today, electronic stamping has replaced these physical stamps in most countries, including Singapore.
It seems that there is not much information on Singapore’s revenue stamps online. If you would like to discuss more about these revenue stamps or would like to share pictures of your revenue stamp collection, feel free to leave your comment below.
And lastly, if you have not e-filed your income tax, remember to do so at the IRAS website by 18 April!