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Levies & Duties

  • Stamp Duty

    Legal Instruments subject to stamp duty include:

    • Antenuptial or postnuptial contract;
    • High purchase agreement;
    • Lease agreement;
    • Mortgage bond;
    • Power of Attorney;
    For a full list see schedule 1 to the Stamp duty Act
    Exempt instruments include:
    • If the duty would be payable by the Government, regional council, municipal council or town council;
    • Instruments in connection with criminal proceedings;
    • Instruments on behalf of charitable or educational institutions of a public character which is exempt from income tax.
    For a full list see section 4 of the Stamp Duty Act

    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.
     

  • Transfer Duty

    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