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Stamp duty is a tax levied on certain kinds of written documents (instruments).
The instruments may be legal, commercial, or financial. The assessment of duty on every instrument is in two ways, Ad valorem duty, and fixed duty. Ad valorem duty is the rate of duty assessed according to the nature of the instrument.
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Change details captured on the notification of birth of birth certificate
Change details captured on the notification of birth of birth certificate
Fixed or flat duty is imposed without any relation to the consideration paid or the amount stated in the instrument.
Ad valorem duty example is an instrument for transfer of property after the sale. On assessment, the examiner will look at the consideration or purchase price of the property. Assessment of duty, in this case, does not depend on the consideration, duty for agreement is K 10 000