LAHORE – The Punjab government has decided to increase stamp duty by two percent to 10% in order to collection additional amount from inflation-stricken people, it has emerged on Tuesday.
Reports said the decision to issue an ordinance for an amendment to the Scheduled-I was taken in a high-level meeting.
The stamp duty for an affidavit has been jacked up by Rs200 to Rs300 while the rate of a stamp paper for divorce matters has been increased to Rs1,000 from previous Rs100.
Similarly, the stamp duty for sale of the immovable property has been increased by Rs1,800 as latest fee would be fixed at Rs3,000.
The stamp duty for agreements worth up to Rs500,000 has also been jacked up from Rs1,200 to Rs3,000 in the Punjab province.
Reports claimed that the government would collect an additional amount of Rs4.20 billion annually by increasing the stamp duty.
