Draft bill proposes replacing stamp duty with digital fees on over 600 transactions

A draft bill ending stamp duty in more than 600 transactions is now at the public consultation stage.

Stamp duty is a very old fee system imposed in favor of entities such as state agencies and pension funds. One doesn’t have to deal directly with the beneficiaries to have a stamp duty imposed.

The abolition of stamp duty will not mean the end of all surcharges, however. A digital transaction fee will replace some of them.

Among the transactions where stamp duty will be abolished are loans, insurance payments, professional licenses, marriage permits, property and vehicle transfers and for the benefit of state agencies such as the National Medicines Agency, the Court Buildings Funding Agency, the Independent Public Contracts Authority and several more.