A Decree Having the Force of Law has been issued to accelerate the collection of stamp duty and the related penalties arising from agreements executed on or before 31 December 2024 but not paid on time under the Stamp Law. The purpose of the Decree is to speed up collection by granting penalty relief on the condition that the principal stamp duty is paid in cash at the time of application.
Who Is Covered?
Scope: Unpaid stamp duty and related penalties due under the Stamp Law on agreements executed up to and including 31 December 2024. The term “Department” refers to the Department of Revenue & Taxation.
Application and Deadline
Where to apply? To the Revenue Unit cashiers of the Department of Revenue & Taxation, by submitting the relevant agreements.
Final deadline: 30 December 2025 (close of business) after the Decree has entered into force.
Payment and Relief
Cash payment condition: If the full principal of the stamp duty is paid in cash at the time of application, 95% of the penalties will be waived. (No instalment option; cash payment is mandatory.)
Non-compliance: If the amounts are not paid in full and on time at application, or if the application deadline is missed, the right to benefit is forfeited and the debt reverts to its original amount.
Prohibition on Set-off and Deductibility
Amounts paid under this Decree stamp duty and any related sums cannot be expensed, cannot be offset against other taxes, and are not refundable in any tax period.
Other Provisions, Execution, and Duration
Matters not regulated in the Decree are subject to the existing tax legislation in force.
Execution: The Ministry responsible for finance. Entry into force: On the date of publication in the Official Gazette. Expiry: 31 December 2025.
What Should You Do?
- Identify your agreements (executed up to 31.12.2024) and determine any unpaid stamp duty/penalties.
- Plan your cash flow for a lump-sum payment (the 95% penalty waiver requires cash payment at application).
- Apply on time by submitting the agreements to the Revenue Unit cashiers. Deadline: 30.12.2025 (close of business).
