Levies & Duties

Levies & Duties

Stamp Duty

Legal Instruments subject to stamp duty include:
  • Antenuptial or postnuptial contract;
  • High purchase agreement;
  • Lease agreement;
  • Mortgage bond;
  • Power of Attorney;
    • For a full list see schedule 1 to the Stamp duty Act

      Exempt instruments include:
      • If the duty would be payable by the Government, regional council, municipal council or town council;
      • Instruments in connection with criminal proceedings;
      • Instruments on behalf of charitable or educational institutions of a public character which is exempt from income tax.
      For a full list see section 4 of the Stamp Duty Act

      Applicable Stamp duty rates on transfer deed:
      Exempt, from N$0 – N$600,000 and from above N$600,000 an amount of N$10 for every N$1,000 or part thereof is payable. Stamp duty is payable on a lease agreement whereby immovable property is let, whether with or without other assets, provided that no transfer duty is chargeable in respect or such lease agreement.

      Transfer Duty

      Levied on the value of any property acquired by any person and payable within 6 months of the acquisition date.
      Acquisitions Exempt from Transfer Duty include:
      Property by the state, local authority, educational institution of a public character;
      Property by a surviving spouse from the estate of deceased spouse;
      A surviving or divorced spouse who acquires the sole ownership of the property.
      For a full list of exemptions see section 9 of the Transfer Duty Act.
      A penalty of 10% is payable on the late payment of the transfer duty.

      The value on which transfer duty is payable is the amount payable for such a property and if no amount is payable the declared value of the property will be regarded as the value of the property.