BRPD Circular Letter No. 13: Amended Duty of The Stamp Act, 1899 (Act II of 1899)

BRPD Circular Letter No. 13 Banking Regulation and Policy Department Bangladesh Bank Head Office Dhaka.

December 6, 2012 BRPD Circular Letter No. 13 Date: --------------------------- 22 Agrahayan, 1419

Managing Director / Chief Executive Officer All Scheduled Banks operating in Bangladesh

Dear Sir,

Regarding the amended duty of the Stamp Act, 1899 (Act II of 1899) through the Finance Act, 2012.

With reference to the above subject, the file number 08.00.0000.040.38.003.11.69 dated June 28, 2012, of the Internal Resources Division of the Ministry of Finance is reproduced below verbatim on the next page for your information and necessary action.

2. You are requested to follow the instructions below immediately and ensure their compliance.

Please acknowledge receipt.

Highest Priority

Government of the People's Republic of Bangladesh Ministry of Finance Internal Resources Division Stamp Administration Branch 14 Ashar, 1419 B: File No: 08.00.0000.040.38.003.11.69 Date: -------------------------- 28 June, 2012 AD

Subject: Implementation of the amended duty of the Stamp Act, 1899 (Act II of 1899) through the Finance Act, 2012, effective from July 01, 2012.

In order to increase revenue collection from the non-NBR tax revenue head, the Government has revised the duty in Section 4(1) and Section 30 of the Stamp Act, 1899 (Act II of 1899) and in 41 entries out of 65 entries in Schedule I through the Finance Act, 2012, and there is a legal obligation to implement it from July 01, 2012 (copy attached).

(a) Amended duty of Section 4(1) and Section 30:

Description of Duty | Effective Date 01-07-2012 (1) | (2) | (3) 4(1) Stamp paper of value up to 100 Taka | 300/- 30 Stamp paper of value more than 100 Taka but up to 400 Taka | 400/-

(b) Revised duty for the following 41 entries out of 65 entries in Schedule I:

Schedule I Entry No. | Description | Duty Effective Date 01-07-2012 (1) | (2) | (3) 01 | Affidavit | 10 Taka 02 | Power of Attorney (a) | 50 Taka, (b) 200 Taka 04 | Agreement | 200 Taka 05 | Lease or Mortgage of immovable property (a) 50 Taka, (b) 200 Taka, (c) 300 Taka 07 | Bond | 200 Taka 08 | Bond (b)(c) | 150 Taka 09 | Bond for payment of money | 150 Taka 10 | Agreement and Release (a) 3000 Taka, (b) 8000 Taka, (c) 20000 Taka, (d) 2000 Taka 14 | Receipt of money (a) 50 Taka, (b) 100 Taka, (c) 500 Taka 15 | Receipt | 50 Taka 17 | Release and Discharge | 200 Taka 18 | Agreement and Bond (a) 100 Taka 20 | Acknowledgement | 500 Taka 22 | Bond | 200 Taka 24 | Receipt (a) 30 Taka, (b) 50 Taka 25 | Acknowledgement (b) 100 Taka 26 | Power of Attorney (a) 1000 Taka, (b) 2000 Taka 28 | Discharge Receipt | 50 Taka 30 | Lease (for term of more than one year) | 1500 Taka 37 | Receipt of money | 300 Taka 38 | Receipt of money | 300 Taka 39 | Acknowledgement of receipt of money (a) 1000 Taka, (b)(c) 2000 Taka, (d) 3000 Taka 40 | Agreement (1)(b) 50 Taka, (c) 100 Taka, 2(a) 2000 Taka, (b) 5000 Taka, (c) 5000 + 0.1% 41 | Agreement for payment of money | 10 Taka 42 | Bond | 200 Taka 43 | Bond and Acknowledgement (a) 20 Taka, (b)(c) 20 + 1 Taka up to 10,000/- 44 | Bond and Release of money | 300 Taka 46 | Release and Acknowledgement (a) 1000 Taka, (b) 2000 Taka, (c) 1000 Taka 48 | Receipt of money (a) 100 Taka, (b) 200 Taka, (c) 400 Taka, (d) 800 Taka 49 | Receipt of money (a)(b) 10 Taka, (c) 20 Taka, (d) 50 Taka 50 | Receipt of money | 200 Taka 51 | Receipt of money | 300 Taka 52 | Receipt | 20 Taka 53 | Acknowledgement | 10 Taka 54 | Acknowledgement of receipt of money | 300 Taka 55 | Acknowledgement (a) 50 Taka, (b) 200 Taka 57 | Release and Acknowledgement | (a) 50 Taka, (b) 200 Taka 60 | Discharge Receipt | 50 Taka 61 | Receipt of money (b) 100 Taka 62 | Acknowledgement (d) 100 Taka, (e) 50 Taka 65 | Receipt up to 50 Taka | 50 Taka

2. In this regard, it is requested that the Ministry/Division and its subordinate Departments/Offices/Offices/Institutions issue necessary instructions to ensure the collection of the revised duty in Schedule I of the Stamp Act, 1899, as amended by the Finance Act, 2012, from July 01, 2012 (including July 01).

Attachment: As above.

Signed (Md. Saiful Nahar Panna) Senior Assistant Secretary Phone-9557523