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Home Taxes and Fees Stamp Duty

Stamp Duty

Definition   There shall be charged on    Effect From   Stamp duty rates    Gazette    valuation for Stamp Duty (immovable property)   How to pay Stamp Duty  Revenue

Definition

Stamp Duty is charged under  section 37 of the Finance Statute of the Southern Province  N0.07  of 1990.Top

There shall be charged on

  • Every instrument relating to a transfer of immovable property situated in the Southern Province.  
  • Every document presented of field, in proceedings instituted in any Court of law established by law, in the Southern province of Sri lanka. Top

Effect From

1st January,1991 alt

Stamp duty Rates   

01
 
Gilt of immovable property*  Rs.
a.Value Rs. 50,000 or less For every Rs.100 or part theroof 3.00
 
 
b. If Value exceeds Rs. 50,000
 
On first Rs. 50,000  1,500.00
On the balance, for Every Rs. 100 or thereof  2.00
    
 02
 
Selling, immovable property*  
a. Value Rs. 100,000 or less For every Rs.100 or part theroof  3.00
 
 
b. If Value exceeds Rs. 100,000
 
On first Rs. 100,000  3000.00
On the balance, for Every Rs. 100 or thereof  4.00
 
03. Exchange of any Property - not between co-heirs*
a. if equal value The same duty as on a conveyance of such property at its market value
  b. if not equal value The same duty as on a conveyance of the property of higher value, computed at its market value thereof
 
04 Exchange of any Property -  between co-heirs*
a. if equal value   10.00
  b. if not equal value The same duty as the duty payable on the transfer of a property. Whose value is equivalant to the difference in market value of the properties exchanged.
 
05 Every document presented or filed in the proceedings instituted in*
a. High Court For every Rs.1,000 or part thereof (maximum of Rs.2,000) 2.00
  b. Disrict Court For every Rs.1,000 or part thereof (maximum of Rs.1,000) 1.00
 
06 Transfer or conveyance of any immovble property, without Consideration, by an executor or administrator of an estate of a deceased to person beneficially entitled to such property or to a trustee appointed under the will of the deceased, or by a trustee to a beneficiary or an order of court in matrimonial proceedings** 10.00
 
07 Transfer or conveyance of any immovble property, without Consideration,by a trustee or the executor or administrator of a deceased trustee to a surviving trustee or to a new trustee** 10.00
 

* Gazette nortification -644/29, 1991.01.12

** Gazette nortification -698/5, 1992.01.22Top

 Gazette

1. 644/29, 1991.01.12

2. 648/05, 1991.02.05

3. 670/04, 1991.07.09

4. 698/05, 1992.01.22

5. 704/04, 1992.03.03

6. 1478/16, 2007.01.04

7. 1735/24, 2011.12.07Top

 Valuation for stamp duty (immovable property)

*. To any property (other than immovable property which is gifted) and to any date, means the prize which in the opinion of the Assessor, property would have fetched in the open market on that day;

 

*. To any immoverble property which is gifted, being immoverble property which was acquired by donor on or before march 31, 1977 means - 

1. The price which in the opinion of the Assessor that property would have fetched if sold in the  open market on march 31,1977 increased by an amount equal to the cost of   the improvements,   alterations and additions, if any, made to such property after march 31, 1977 and prior to the date of the instrument by which such property is gifted; or   

 

2.The price,which, in the opinion of the Assessor,  that property whould have fetched if sold in the open market on the date of the instrument by which such property is gifted;

 

Whichever price is the lower

 

*. Any immoveable property which is gifted, being immoveable property which was acquired by the donor after March 31, 1977 means - 

1. The price which, in the opinion of the Assessor, such property would have fetched if sold in  the open market on the date on which such property was acquired by the donor, increased by  and amount equal to the cost of the improvement, alterations and additions, if any, made to such property after the date on which the property was acquired by the donor, and prior to date of   the instrument by which such property is gifted; or

 

2. The price which, in the opinion of the Assessor, that property would have fetched ,if sold in the  open market on the date of the instrument by which such property was gifted;Top

 

Whichever price is the lower

*. Duty is payable at the time of execution of the instrument

*. Stamp duty payable  on an instrument  relating  to a transfer of immovable property may be paid  to a prescribed bank which shall issue a Certificate in the prescribed from payment  of the amount  of   stamp duty  paid and the  date of  payment of such  duty  and such instrument  shall  have affixed on it the Certificate  of  payment issued  by the bank.

 

These Bank Certificate Could be Purchesed from any branch of People's Bank or Bank Of Ceylon

 

  

Revenue

Year
Stamp Duty - Amount -Rs. (000,000)
Transfer of Properties
Court Documents
Total
Target
Actual
Target
Actual
Target
Actual
1991
20
       
21
1992 20         34
1993 25         35
1994 27         44
1995 50         52
1996 55         58
1997 60         69
1998 60         85
1999 72         90
2000 91         99
2001 94         161
2002 104         122
2003 110         208
2004 187         277
2005 215         288
2006 280         319
2007 300         381
2008 400         409
2009 300         349
2010 362         443
2011 366         821.2
2012 600 896.4   6.3   902.8
2013 753 994.5   6.3   1,000.8
2014 850 1,195.5 3.0 7.1 853.0 1,202.7
2015 1,050  1,491.2 6.3  8.6 1,056.3  1,499.8
2016* 1,700 *1,707.1 9.0 *7.6 1,709.0 *1,714.8
2017 1,600 - 8.0 - 1,608 -

 

      *from 01.01.2016 to 31.12.2016

alt

 

 

Revenue Calander

December 2021
M T W T F S S
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2