Stamp Duty
Under Section 37 of the Finance Statute of Eastern Province No. 01 of 2008
Definition
Stamp Duty is charged under section 37 of the Finance Statute of the Eastern Province No. 01 of 2008. It shall be charged on:
- Every instrument relating to a transfer of immovable property situated in the Eastern Province.
- Every document presented or filed in proceedings instituted in any Court of Law within the Eastern Province of Sri Lanka.
Effective Date: From the 1st of January 2008.
Stamp Duty Rates
| Type | Details | Rate / Amount |
|---|---|---|
| 01. Gift of Immovable Property | (a) Value Rs.50,000/= or less — For every Rs.100/= or part thereof (3%) | Rs.3.00 |
| (b) If value exceeds Rs.50,000/= — On first Rs.50,000/= (3%), on balance (2%) | Rs.1,500.00 / Rs.2.00 | |
| 02. Transfer of Immovable Property (Freehold) | (a) Value Rs.100,000/= or less — For every Rs.100/= or part thereof (3%) | Rs.3.00 |
| (b) If value exceeds Rs.100,000/= — On first Rs.100,000/= (3%), on balance (4%) | Rs.3,000.00 / Rs.4.00 | |
| 03.I Exchange of Property (Between Co-heirs) | (a) If equal value | Rs.10.00 |
| (b) If not equal value — Duty on difference in market value | – | |
| 03.II Exchange of Property (Not Between Co-heirs) | (a) If equal value — Duty as on conveyance at market value | – |
| (b) If not equal — Duty on higher value property | – | |
| 04. Court Documents | (a) High Court — For every Rs.1000/= or part thereof (Max Rs.2000/=) | Rs.2.00 |
| (b) District Court — For every Rs.1000/= or part thereof (Max Rs.1000/=) | Rs.1.00 |
Gazette Notification: 822/16, dated 10/06/1994
Valuation for Stamp Duty (Immovable Property)
To any immovable property (other than gifted), valuation means the price which in the opinion of the Assessor, the property would have fetched in the open market on that day.
For gifted immovable property acquired on or before 31st March 1977: the lower of:
- Market price on 31st March 1977 plus cost of improvements made before gift date, OR
- Market price on the date of the gift.
For gifted immovable property acquired after 31st March 1977: the lower of:
- Market price on acquisition date + cost of improvements before gift, OR
- Market price on the date of the gift.
Duty is payable at the time of execution of the instrument.
Payment Method
Stamp Duty payable on an instrument relating to transfer of immovable property may be paid to a prescribed bank. The bank will issue a certificate of payment with the amount and date, which must be affixed to the instrument.
Certificates can be purchased from: any branch of People's Bank or Bank of Ceylon.
© Provincial Revenue Department - Eastern Province