Stamp duty ordinance was enacted in Sri Lanka in 1909. Thereafter in 1982 Parliament enacted No。 43 of Stamp Duty Act to provide for the imposition of stamp duty on instruments and documents and for matters connected therewith or incidental thereto.
Stamp Duties on immovable property and certain movable properties were devolved to the Provincial Councils by the 13th Amendment to the Constitution and stamp duties administered by the central government was suspended with effect from 1st May 2002. The government reintroduced stamp duty and enacted Stamp Duty (Special Provisions) Act No. 12 of 2006, but for only ten instruments.
Those specified instruments are :
Stamp Duty is charged, under Stamp Duty (Special Provisions) Act No。 12 of 2006 as amended by (Amendment) Act No。 10 of 2008 and 13 of 2011 at specified rates, on every specified instrument executed, drawn or presented in Sri Lanka; executed outside Sri Lanka in relation to a property in Sri Lanka and presented in Sri Lanka, (liability arises at the time it is presented in Sri Lanka) subject to the exemptions published in the Gazette.
For the purpose of compounding, registration should be obtained from the Department of Inland Revenue. The following persons should obtain the registration.
The compounding Authority required compounding the relevant Stamp Duty and make the remittances to the Commissioner General of Inland Revenue quarterly within 15 days from the end of the quarter.
Stamp duty can be paid - by affixing stamps, paying to specified bank or compounding of stamp duty by authorized persons.
Payments should be credited to the Stamp Duty Account of Commissioner General of Inland Revenue No. 4153842 at Bank of Ceylon – Taprobane Branch
Provide: Pay order/Bank Draft in favour of Commissioner General of Inland Revenue with relevant document for necessary endorsement.
Department of Inland Revenue, Sri Lanka,
Chittampalam A. Gardiner Mawatha, Colombo 02.
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