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.
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.