Stamp duty on transfer of land in rural areas up
The stamp duty on transfer of land and property in rural areas has been increased by one percentage point with a view to increasing revenue collections.
It was decided at a meeting of the cabinet with Prime Minister Sheikh Hasina in the chair, which amended the Stamp Act 1899 increasing the rural level stamp duty.
Previously, the rate of stamp duty was two percent in rural areas and three percent in urban areas on the total value of the land or property during transfer.
"From now on, during the handover of land or property both in urban and rural areas, three percent stamp duty will have to be paid," Prime Minister's Press Secretary Abul Kalam Azad told reporters after the meeting.
The cabinet also approved The Jute (Amendment) Act 2010.
Several other issues like giving awards to politicians, philosophers, intellectuals and artists of various countries for their historic role in the War of Liberation in 1971, ratification of the Rome Statute of International Criminal Court, Amendment of the Income Tax Ordinance 1984 were sent back yesterday.
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