T&T Stamp Duty Rates
In accordance with the Stamp Duty Legislation in Trinidad & Tobago, a number of documents require stamping. Some of these include: Deeds of Conveyance; Deeds of Gift; Deeds of Mortgage; Release of Mortgage Loan; Release of Life Insurance Policies; Powers of Attorney; Transfer of Shares; Deeds of Lease; Deed Polls; Bonds – Performance and other wise; Deeds of any other kind.
The Stamp Duty Section
Inland Revenue Division
Ground Floor, Edward Street
Port of Spain
South Regional Office
Tobago Regional Office
STAMPING OF DOCUMENTS
All documents to be stamped are provided by the individual. Requisition Forms which are to be completed are available at the Stamp Duty Section.
Payments can be made by certified cheques, cash and LINX (Debit Card drawn on a T&T bank account).
Individuals should seek assessment of documents for stamping from the staff at the stamp duty section prior to completion of payment cheques.
Deed of Conveyance or Gift
This deed is used where residential property changes ownership. Residential Property is deemed to be land upon which a house has been built and used wholly or mainly for residential purposes.
Residential Property Rates
The sale or other disposal of residential properties valued at $850,000 or less SHALL BE EXEMPT from stamp duty.
The following rates of stamp duty SHALL BE payable on the sale or other disposal of residential properties (with dwelling house) whose values exceed $850,000:
• For every dollar of the first $400,000 in excess of $850,000 – 3%
• For every dollar of the next $500,000 – 5%
• For every dollar thereafter – 7.5%
RESIDENTIAL PROPERTY (LAND ONLY)
The sale or disposal of residential land valued at $450,000 or less shall be EXEMPT from Stamp Duty.
• For every dollar of the first $200,000 in excess of $450,000 – 2%
• For every dollar of the next $200,000 in excess of $650,000 – 5%
• For every dollar thereafter in excess of $850,000 – 7%
There are no exemptions on Non-Residential Conveyances e.g. land only.
The rates applicable are:
Non-Residential Rates (Commercial & Agricultural)
Non-Residential Transfers refer to commercial and agricultural properties. The stamp duty payable is:
Up to $300,000.00 TT 2%
Next $100,000.00 TT 5% on the full amount
Over $400,000.00 TT 7% on the full amount
Once the appropriate stamp duty has been paid, as certified by an embossed stamp affixed by the Board of Inland Revenue, the original
transfer documents are lodged with the Registrar General’s Department and a registered copy will be delivered to the Purchaser as proof of his ownership of the land. The registration fee payable for the old law system is typically TT$100.00 and TT$50.00 for the R.P.A. system.
Deed of Residential Mortgage
This deed is used in the purchase and/or construction of a residential property. Property valued up to $450,000 are exempt from stamp duty.
Where the value exceeds $450,000 stamp duty is payable on the full amount at the rate of 50¢ for every $250.00 or part thereof.