Govt. doubles stamp duty on lease and rental agreements

Monday, 31 March 2025 00:00 - - {{hitsCtrl.values.hits}}

The Government has announced a 100% increase in stamp duty on lease and rental agreements, with the new rates taking effect from tomorrow (1 April).

According to the Finance Ministry, the revised duty will now be Rs. 20 per Rs. 1,000 or part thereof – double the current Rs. 10 per Rs. 1,000. This applies to both lease agreements and any advance payments made for the entire lease period.

A gazette notification formalising the change has already been issued by Finance Minister Anura Kumara Disanayake, marking the first revision of stamp duty since 2006.

However, the Ministry confirmed that stamp duty on agreements under the Consumer Credit Act, which remains at Rs. 10 per Rs. 1,000 of the total value, will not be affected by this revision.