The Parliamentary Committee on Public Finance (COPF) has granted approval to increase stamp fees. 

As such, stamp duty will be levied on lease agreements of any property, and the rate previously charged at Rs. 10 per Rs. 1,000 will be increased to Rs. 20.

The increase in stamp fees, as proposed in the 2025 Budget, is to be implemented with effect from 01st April 2025. 

The COPF’s approval was granted for the Order published under the Stamp Duty (Special Provisions) Act No. 12 of 2006, issued under Section 3 of the Stamp Duty Act, to increase stamp fees.

The matter was taken up during the COPF meeting held in Parliament this week, chaired by MP Harsha de Silva.

Officials from the Ministry of Finance informed the Committee that this amendment is expected to generate an additional revenue of 0.01% of the Gross Domestic Product. (Newswire)

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