Other Indirect Taxes

Other indirect taxes are not significant except for excise duties mainly on tobacco and liquor, betting duties and various duties related to vehicle ownership.

With effect from 21 February 2014, the current excise duties of $0.352 for every gram or part thereof of each stick of cigarette or $352 per kilogram has been increased by 10%.

Different liquor products are subject to different amount of excise duties.  With effect from 21 February 2014, the excise duties for liquor products have been increased by 25%.

Property Tax

Property tax is imposed at 10% on the annual value of commercial and industrial (non-residential) properties.

Stamp Duty

Stamp duty is a tax on executed documents relating to properties, interest in properties and shares or interest in shares. No stamp duty is payable if the agreement is verbal and no document is executed (signed) for that agreement.