Stamp Duties Amendment Act 2023

What this bill does

This bill increases stamp duty fees by 5% across almost all government documents and transactions in Bermuda. Stamp duties are fees you pay when completing legal paperwork like property purchases, business registrations, court filings, and various licenses.

If passed (voted YES)

• All stamp duty fees increase by 5% - for example, fees that currently cost $25 will rise to $27, and $100 fees will become $105
• Property transactions, business documents, court filings, and other official paperwork will cost slightly more to process
• The government will collect additional revenue from these higher fees on legal documents and transactions

If rejected (voted NO)

• All current stamp duty fees remain at their existing levels with no increase
• The cost of property purchases, business registrations, court documents, and other official transactions stays the same
• Government revenue from stamp duties remains unchanged

Who it affects

This affects anyone who needs to complete legal paperwork or official transactions in Bermuda, including property buyers, business owners, people filing court documents, and anyone requiring government licenses or registrations.