A. PROVINCIAL COUNCILS

A.1. Exchange between Co-heirs

      (a) if both properties are of equal value   Rs. 10.00
      (b) if not of equal value – Stamp Duty on difference as a transfer on market value 

A.2. Exchange between Others 

      (a) if equal value – Stamp Duty as on transfer on market value
      (b) if not – Stamp Duty on market value of property of higher value 

A.3. Gift

       For every load 100% the value not exceeding Rs.50,000.00 – Rs. 3.00

       For the Value exceeding Rs. 50,000.00 – Rs. 2.00

       (1) Where the property was acquired by the donor on or before 31 st March 1977 .

Note : Method of Computation of value.

a) Its market price at that date increased by the cost of improvements made to the property upto the date of the instrument of gift or
b) Its market price on the date of instrument of gift which is lower.
       

       (2)Where the property was acquired by the Doner after 31 st March 1977 :-

       a) its market price at that date increase by cost of improvement made upto the date of the instrument of Gift.or
       b) Its market price on the date of instrument of gift which is lower

       If acquired thereafter - market value on the date of acquisition plus improvement, if any or the current market value       whichever is lower

A.4. TRANSFER OR CONVEYANCE OF ANY IMMOVABLE PROPERTY (including conveyance by way of Trust) -

Where the value of the property is Rs.100,000 or less – for every Rs.100.00 or part thereof – Rs.3.00

For every Rs.100.00 part thereof of the value exceeding Rs.100,000 – Rs.4.00 on the balance - 4%

B. CENTRAL GOVERNMENT

B.1. Following are payable in respect of properties in North-East Province to the Central Government, as there is no Provincial Council for North-East Province.

B.2. Other Instruments 

      B.2.1. Mortgage                    

          Affecting any property – for every Rs.1,000 or part thereof – Rs.1.00

 (any of mortgage executed in respect of any loan for Rs. 3 million or less taken from Licensed Commercial Bank / specialized Bank / Registered Finance Company and any institution registered under the co-operative societies for construction of a house of purchase a house or of a site for Construction of a house is exempted from Stamp-duty.

RATES OF STAMP DUTY (AS FROM 04 TH APRIL 2006 ) 

PART 1: GENERAL  

Stamp duty payable to the Central Government under the Stamp Duty Act.No.43 of 1982 was abolished from May 1, 2002 by Finance Act.No.12 of 2002 Part III Sections 15 and 16. But by the provisions of the Stamp Duty (Special Provisions) Act.No.12 of 2006 liability to pay Stamp Duty to the Central Government on certain instruments has been restored from 4.4.2006:-  

PROVINCIAL COUNCIL STAMP DUTIES  

The following rates of stamp duty are payable to the Provincial Councils. 

1. DEED OR INSTRUMENT  

(1) for EXCHANGE OF ANY PROPERTY otherwise than between co-heirs :-

(a) if of equal value, the stamp duty as on a conveyance of such property at the market value thereof;
(b) if of unequal value, the same duty as on a conveyance of a property which is of the HIGHER VALUE at the market value thereof.  

(2) for the EXCHANGE of ANY PROPERTY between co-heirs :-

(a) if of equal value 10.00  
(b) if pecuniary consideration for equality is given the same duty as on a conveyance of a property the value of which is equal to the DIFFERENCE in the market value of the properties exchanged.  

 

2.GIFT OR DEED OF GIFT of any property  

(a) for every Rs.100/= or part thereof of the value not exceeding Rs.50,000/= Rs. 3.00

(b) for every Rs.100/= or part thereof of the value in excess Rs.50,000/= Rs. 2.00 

NOTE: The value of immovable property for purposes of gift shall be :- 

1. Where the property was acquired by the Donor on or before 31/3/1977 :-  

(a) Its market price at that date increased by an amount equal to the cost of improvements made to such property up to the date of the instrument of Gift or  
(b) Its market price on the date of the instrument of Gift whichever is lower:-

 

2. Where the property was acquired by the Donor on or after 31.03.1977 :-

(a) Its market price at that date of such acquisition increased by an amount equal to the      cost of improvements made to that property up to the date of the instrument of Gift; or  
(b) its market price on the date of the instrument of Gift, whichever is lower  

3. (1) TRANSFER (except GIFT and Conveyance by Executive Administrator or Trustee to a Beneficiary or by an Order of Court is matrimonial proceedings) 

(a) of any IMMOVABLE PROPERTY  

i. of every Rs.100/= or part thereof of the value not exceeding Rs.100,000/= - Rs.3.00 

ii. for every Rs.100/= or part thereof of the value in excess of Rs.100,000/= - Rs.4.00

(b) TRANSFERS or CONVEYANCE of a

Property by way of Trust - the same duty as on a conveyance or transfer for a pecuniary consideration equal to the value of the property 

PART II: DOCUMENTS FILED IN COURT PROCEEDINGS 

1. Every DOCUMENT filed in the SUPREME COURT, COURT OF APPEAL or HIGH COURT when exercising admiralty justification :-

(a) Where value  does not exceed Rs.1 million for every Rs.1,000/= or part thereof - Rs.2.00

(b) Where the value exceeds Rs.1 million - Rs. 2,000.00 

2. Every DOCUMENT filed in the civil proceedings in the DISTRICT COURT 

(a) Where value does not exceed Rs.1 million for every Rs.1,000/- or part thereof - Rs.1.00

(b) Where the value exceeds Rs.1 million (only) first 10 documents are liable to be stamped) - Rs.1,000.00

3. Each document filed in Civil Proceedings instituted in the HIGH COURT of the Western Province exercising commercial jurisdiction established under High Court of the provinces (Special Provisions) Act.No.10 of 1996

(a) where value of the Proceedings does not exceed Rs.1 million for every Rs.1,000/= or part thereof – Rs. 2.00

(b)   where the value of the Proceedings exceeds Rs. 1 million – Rs. 2,000.00

NOTE 1 (a) The basis of the value for the purpose of the court Proceedings is:- 

(i)   The amount of the debt demand or damages claimed in the proceedings  

(ii)  The value of land which is the subject matter of Proceedings  

(iii)  Rs.5,000.00 in any other proceedings  

(b)  There are certain exemptions available (eg. Document filed in an action by or on behalf of a person claiming damages arising from death or damage caused by a motor vehicle) 

NOTE 2  Stamp Duty in court proceedings and on transfers, gifts, exchanges, conveyances by Executors and Administrators in respect of immovable properties in the Province (except the North-East Province) are payable to the respective Provincial Councils. 

CENTRAL GOVERNMENT STAMP DUTIES
(as per gazette extraordinary on 1439/1 of 3/4/2006 )
i s amended by gazette extra-ordinary on 1465/19 of 05.10.2006
 

Item No. I nstrument Rate of Stamp duty 01 Affidavit Rs.25.00 02 Policy of Insurance for every Rs.1,000 or part thereof Rs. 0.50 03 Warrant to act as a notary Public Rs. 1,000.00 04. A license issued authorizing t he holder to carry on any trade Business, profession or vacation Rs. 1,000,00 or 10% of licence fee whichever is less 05 A claim, demand, or request presented for the payment of any sum of money not including any finance or service charge due in respect of any transaction entered into during any period by using any credit Card for every Rs.1,000 or part thereof of such some of money     Rs. 10.00 06. On the issue, transfer or a ny share certificate issued consequent to the issue transfer or assignment of any number of shares of any company For every Rs.1,000/= or part thereof the aggregate value of such number       Rs. 5.00 07 Mortgage for any definite and certain s um of money affecting any property For every Rs.1,000 or part thereof   Rs. 1.00 08 Promissory Note For every Rs.1,000 or part thereof   Rs. 1.00 09 Lease on hire of any property for every Rs.1,000 or part thereof of the aggregate rent or hire payable for the whole term comprised in the lease or hire Agreement including any premium Rs. 10.00 10 (a) Receipt of discharge given for any money or property amounting to Rs.1,000 or above but less than Rs.50,000 for every Rs.1,000 or part thereof Rs.50,000 or above (b) Receipt or discharge given for payment to any employee of a gross remuneration - Rs.25,000 or less - more than Rs.25,000, but less than Rs. 40,000 - Rs.40,000 or above, but less than Rs.50,000 - Rs.50,000 or above       Rs. 1.00 Rs. 50.00     NIL Rs.25.00 Rs. 40.00 Rs. 50.00

NOTE : his item 10 is as varied by notification Gazette Extraordinary No.1465/19 of 5 th October 2006 .

Other stamp duties payable to the Central Government in respect of properties in North East Province (as per Gazette extraordinary No.1439/3 of 3. 4.2006)

EXEMPTIONS (Gazette No.1465/20 of 5 th October 2006) in terms of Sec.5 of the Act.No.12 of 2006, the following instruments are exempted

1. Any affidavit made on the request of any public officer or in compliance with any requirement imposed by any written law;

2. Any bond or mortgage given by any public officer or his sureties for due execution of his office;

3. Any instrument executed by or on behalf of, or in favour of the Government of any country; being a country in respect of which an order under Section 67 (3) o Act.No.43 of 1982 is in force;

4. Any instrument for the mortgage of food crops or jewellary;

5. Any share Certificate issued in lieu of share certificate lost or destroyed, or new share certificate for a grater or less number of shares in lieu of existing share certificates but not exceeding in value of the existing share certificates;

6. Any share certificate issued, consequent to the sale by one person and purchase by another of any share being sale of purchase in relation to which Share Transaction Levy under Part II of the Finance Act.No.5 of 2005 has been charged;

7. Any share certificate issued in pursuance of the issue, transfer or assignment of any share in the Credit Information Bureau of Sri Lanka established by Act.No.18 of 1990;

8. Any instrument executed in pursuance of the provisions of the Farmers Pension and Social Security Benefit Scheme Act.No.12 of 1987;

9. Any instrument executed by, or on behalf of or in favor of a registered co-operative society within the meaning of the Co-operative Societies Law No.5 of 1972;

10. Instrument executed by a member of a registered co-operative society within the meaning of the Co-operative Societies Law No.5 of 1972 in favour of and relating to the business  of such registered society;

11. Any instrument in respect of supply of any good or service to a Diplomatic Mission or any State of any organization to which the provision of the Diplomatic Privileges Act.No.9 of 1996, apply provided that reciprocal benefits are available to their counterparts from Sri Lanka;

12. (a) Policy of life or medial insurance;  or

(b) Policy of insurance on

(1) Plant, machinery or equipment used in the construction industry or agriculture or

(2)   any motor vehicle other than any motor vehicle used for private travelling.

13. Any need of mortgage affecting any air-craft registered under the Civil Aviation Authority Act No. 34 of 2002.;

Or any shop registered under Merchant Shipping Act No. 52 of 1970.

14. Any deed of mortgage executed in respect of any loan for Rs.3,000,000 or less taken for the

(a)   construction of a house; or

(b)   purchase of a house or of a site for the construction of a house;  

where the mortgagee is any bank registered under the Banking Act.No.30 of 1988 or any finance company registered under the finance Company Act.No.78 of 1988 or any institution registered under the co-operative societies Law No. 5 of 1972 or any Public Corporation or any Provident Fund approved by the Commissioner General of Inland Revenue for the purposes of the Inland Revenue Act.No.10 of 2006;”

15. Any instrument relating to any finance lease executed in respect of any property other than any such finance lease in respect of motor vehicles used for travelling

16. Any hire purchase agreement entered into under the Consumer Credit Act No. 29 of 1982 in respect of any movable property other than any motor vehicle used for traveling.

17. Any instrument relating to the lease or rent of any building where such lease or rent payment does not exceed Rs.5,000.00 per month.

18. Receipt or discharge given for for remuneration amounting to not more than Rs.25,000 paid by any employer is any employee or for any money or other property amounting to not mpre than Rs.1,000.00

19. Any receipt given for any sum deposited with or withdrawn from, any finance company registered under the Finance Company Act.No.78 of 1988 or commercial or specialized bank registered under Banking Act.No.30 of 1988 or any institution registered under the co-operative societies Law No. 5 of 1972.

20. Any instrument executed by or on behalf of or in favour of the Government in any case where, but for this exemption, the Government would be liable to pay the duty chargeable in respect of such instrument.

21. Any receipt given by any person receiving payment, for any goods sold or services provided, immediately upon such sale or such provision

22. Any receipt given by any person receiving any capital sum by way of death gratuity or as compensation for death of injury.  

23. Any receipt given for acknowledging of the receipt of any pension

24. Any Commercial paper of debtenture.

25. Any Deed of Conveyance or transfer by the Government or by any person, for or on behalf of the Government where no consideration was received.

26. The following documents filed in legal proceedings :-

(a) documents filed in any court, by public officers suing or being sued or intervening,
virtue official in any proceedings in such court;

(b) document filed in any court, by a person duly admitted to sue, defend or intervene, as a pauper in any proceedings instituted in such court;

(c) Documents filed in any court, by a person applying to be declared an insolvent by such court;

(d) All documents filed in any court for the purposes of an application for an order in the nature of a writ of habeas corpus;

(e) All documents filed by or on behalf of any person, who is certified by a prescribed officer as suing, defending or intervening with legal aid provided under the Legal Aid Law, No.27 of 1978;

(f) All documents filed in any court by or on behalf of any person claiming damages arising from death or damage caused by a motor vehicle;

(g) Motions filed in any court;

(h) Warrant issued by any court, whether on application or on its own motion;