Stamp duty ordinance was enacted in Sri Lanka in 1909. Thereafter in 1982 Parliament enacted No 43 of Stamp Duty Act to provide for the imposition of stamp duty on instruments and documents and for matters connected therewith or incidental thereto.   Stamp Duties on immovable property and certain movable properties were devolved to the Provincial Councils by the 13th Amendment to the Constitution and stamp duties administered by the central government was suspended with effect from 1st May 2002. The government reintroduced stamp duty and enacted Stamp Duty (Special Provisions) Act No.12 of 2006, but for only ten instruments. Those specified instruments are :   an affidavit, a policy of insurance, a warrant to act as notary public, a periodic license to carry on trade, business, profession or vocation, a claim or demand made by a credit card holder on the usage of the card, a share certificate on new/additional issue or transfer/assignment, a mortgage for a definite sum of money which affects a property, a promissory note, a lease or hire of any property, a receipt or discharge given for any money or other property.   Stamp duty can be paid - by affixing stamps, paying to specified bank or compounding of stamp duty by authorized persons.   Compounding of Stamp Duty Commissioner General of Inland Revenue may permit following persons to collect Stamp Duty from relevant parties and to remit stamp Duty   Policy of Insurance - Person issuing Insurance Policy Licenses - Issuing Authority Credit Cards - Service Provider Payments to Employees - Employer In any other situation - Depending on circumstances (Persons drawing, making, or executing such Instrument)   A person enthused to compound the Stamp Duty is required to make certifications on the relevant instrument on a rubber stamp.   The compounding Authority required compounding the relevant Stamp Duty and make the remittances to the Commissioner General of Inland Revenue quarterly within 15 days from the end of the quarter.   Payments should be made to the Stamp Duty Account of Commissioner General of Inland Revenue No. 4153842 at Bank of Ceylon ??Taprobane Branch   Payment of Stamp Duty on Issues/Transferor Assignment of Company Shares.   Issue of Shares1. Complete share issue application in triplicate. 2. Get the value per share from the Income Tax file. 3. Obtain the correct Stamp Duty calculation from the relevant Assessor of the Stamp Duty Unit. 4. Stamp Duty payment should be made using the specified paying-in-slips available at the Stamp Duty Unit. 5. Payment can be made by cash to the People?? Bank, Hyde Park Corner Branch. OR Provide: Pay order/Bank Draft in favour of Commissioner General of Inland Revenue with relevant document for necessary endorsement.   Note : 1. If it is a issue of subscriber/initial Share Issue application to be completed in duplicate. 2. No need to get the valuation from Income Tax file. 3. According to the New Company Act value per share be determined by the Directors. Therefore, resolution to be forwarded with Directors??signature. (Secretary?? True copy not accepted). 4. Copy of the TIN Certificate.   Transfer of Shares 1. Complete Share Transfer application in triplicate. 2. Follow the same procedures as the Issue Shares No. 2,3,4,5 respectively   Payment of Stamp Duty on Mortgage Bonds, Lease/Hire/Rent Agreements 1. Stamp Duty should be paid before or at the same time of the execution of an instrument. 2. Leases and mortgages of immovable properties should be paid within 7 days from the execution. 3. Payments should be made in favour of the Commissioner General of Inland Revenue ??Stamp Duty Account No. 204 ??1 ??001 ??0085127 at People?? Bank by Bank draft/Pay order or Cash only. 4. If the payment is made by cash, forward the original and a photocopy of the instrument (deed etc) with the copy of the paying-in-slip to the stamp Duty Unit. 5. The Stamp Duty Unit will make necessary endorsement on the instrument thereon.   Transfers (including Gifts) of immovable Properties in the North Eastern Province 1. Stamp Duty on above immovable property (including gifts) in North & Eastern Provinces are payable to Commissioner General of Inland Revenue. 2. Follow the same procedures as the Issue of Shares No. 2,3,4,5, respectively.