Home Sri Lanka Government doubles stamp duty on property leases and rentals
Sri Lanka

Government doubles stamp duty on property leases and rentals

Share
Share

The government has decided to increase the stamp duty applicable to property lease and rental agreements by 100%, according to an official statement from the Ministry of Finance.

The new rates will come into effect on April 1st.

Currently, a stamp duty of Rs. 10 is charged for every Rs. 1,000 or part thereof of the total value of a lease or rental agreement.

This amount, which includes any applicable surcharges, covers the entire period of the agreement. As of April 1st, this rate will be doubled to Rs. 20.

The announcement was formalized in a gazette notification issued by Minister of Finance Anura Kumara Dissanayake.

This marks the first revision to the stamp duty on leases and rentals since 2006.

However, the Ministry clarified that the stamp duty charged on freehold agreements under the Consumer Credit Act will remain unchanged at Rs. 10 per Rs. 1,000 or part thereof.

The Ministry emphasized that while the increase aims to update outdated rates, there will be no impact on consumer credit-related freehold agreements.

Share

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Related Articles
Sri Lanka

No increase in pensions this month despite budget 2025 proposal

The pension allowance for the month of April has been deposited into...

Sri Lanka

Cabinet nod to recruit over 18,500 for state sector jobs

The Cabinet of Ministers has approved the recruitment of 18,853 new personnel...

Sri Lanka

Mahinda Siriwardana’s book on Sri Lanka’s economic revival presented to President

The book “Sri Lanka’s Economic Revival – Reflection on the Journey from...

Sri Lanka

Nalinda fact-checks Nalin’s ‘foreign reserves’ statement

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday (08) responded to the...