What state or local transfer, stamp or similar taxes are levied generally on sellers or buyers upon the transfer of interests in "entities" which own real estate?
In the event of a transfer of shares held/owned in a company incorporated in Sri Lanka, which owns real estate, such tansfer of shares is liable for the payment of stamp duty at the rate of LKR 5/- per LKR 1,000/-. This is payable by the tanferee of such shares and payable to the Central Government of Sri Lanka.
By the Order made by the Minister of Finance and Planning published in Gazette Extraordinary No.1465/20 dated 5th October 2006, transfer of shares of certain class or description specified in the Order has been exempted from the payment of stamp duty.
