Govt cuts duty on flat, land registration

Staff Correspondent

4 July, 2020 12:00 AM printer

The government has slashed the duty on registration of land and flat from two percent to one percent of the transfer value.

Law Ministry issued a notification on Thursday in this regard amending the gazette issued on December 2, 2014 regarding the land and flat registration fees.

The ministry also said the new registration fee will be effective from July 5.

It said one percent registration fee has to be paid if the value of the deed is not more than Tk10,000.

However, the minimum fee cannot be less than Tk100. If the value of the deed is more than Tk10,000, registration fee has to be paid at the rate of 1 percent of the value.

Earlier, the stamp duty was 3 percent, value added tax (VAT) was 3 percent and local government tax was 2 percent during registration of land and flat.

However, the stamp duty was reduced from 3 percent to 1.5 percent in December last year.