The rate of stamp duty has been increased by 100 per cent on Letters of Credit opened by banks for imports in the Finance Bill 2014-15 approved by the Sindh Assembly this week.
The new rates, to be applicable from July 1, will be Rs200, Rs400 and Rs1,000 for LCs of Rs50,000, Rs100,000 and Rs500,000 respectively.
An official of the Board of Revenue (BoR) said that for the benefit of exporters, stamp duty on bill of lading would be charged at a uniform rate of Rs300 per piece, irrespective of the value of goods exported. Earlier duty was charged according to the value of goods.
Stamp duty on release of shares (stocks) has been raised to 2pc from 1pc earlier.
On affidavit, a legal document used in business and education etc, it is up from Rs20 to Rs50.
On indemnity bonds will be Rs500 against Rs200 earlier.
