Stamp Duty

Stamp duty applies to a wide range of documents including but not limited to contracts, agreements, notes payable, letters of credit and letters of guarantee, inancial statements and payrolls. Stamp duty is levied according to the type of documents at diferent tax rates (between 0.189%- 0.948%) or lump-sum amount listed in Annex I of the Stamp Duty Law.

Documents exempted from stamp duty are listed in Annex II of the same law. The law provides that each relevant party shall be responsible for payment of the total amount of stamp duty levied on the agreements. Each original document is separately subjected to stamp duty; however, stamp duty applies to only one copy of the paper subjected to proportional stamp duty.

The stamp duty declaration is filed and paid on a monthly basis.

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