Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1694861198215.pdf (Fiji)
PARLIAMENT OF THE REPUBLIC OF FIJI Services BILL SUMMARY Stamp Duties (Budget Amendment) Bill 2017 Bill No.

23 of 2017 Introduction The Stamp Duties Act 1920 (‘Act’) was enacted to impose charges on certain documents and transactions.

Stamp duty is charged based on the value of the transaction depending on the particular document and Schedule to the Act lists these documents upon which stamp duties are required by the Act to be charged is listed in the Schedule of the Act (refer Annexure A).
Objectives, scope and intent of the Bill The objectives of the Bill is to: a. b.
Increase the threshold of waiver or refund of stamp duties Increase certain penalties for offences committed under the Act to be consistent with the tax laws of Fiji Include Air Waybills in the documents required to be charged with stamp duty c. d. Exempt stamp duty charged on a transfer through a will or transfer of certain properties between nuclear family members including grandparents and grandchildren, if such transfer is done out of love and affection.
Summary of provisions Clause 1 provides that this Bill, when it becomes law be called ‘Stamp Duties (Budget Amendment) Act 2017’ and will come into force on 1 August 2017 if passed by the Parliament.

Clause 2 amends section 4A of the Act to increase the threshold for waiver or refund of stamp duties from $10,000 to $25,000.

Clause 3 amends section 17 of the Act by increasing the fine for “Resisting, obstruction or refusing to assist” from $100 to $25,000.
Clause 4 amends section 20 of the Act by increasing the fine for “Defacement of adhesive stamps” from $10 to $25,000.

Clause 5 amends section 21(1) of the Act by increasing the fine for “Frauds in relation to adhesive stamps or to stamp duty” from $40 to $25,000.

Clause 6 amends section 22 of the Act by increasing the imprisonment term from 4 years to 10 years for the felonies listed in this section.
Clause 7 amends section 23 of the Act by increasing the imprisonment term from 3 months to 10 years for default of payment of fine.

Clause 8 amends section 26 of the Act by increasing the fine from $100 to $25,000, for failure to produce instrument for stamping after notice served from the Commissioner.

Clause 9 amends section 33 of the Act by increasing the fine from $100 to $2,500 for non- disclosure of full facts with intent to defraud the State.
Enquiries: research@parliament.gov.fj 4 July 2017 1 PARLIAMENT OF THE REPUBLIC OF FIJI Services Clause 10 amends: BILL SUMMARY - - Section 37(1)(a) of the Act by increasing the fine from $2 to $500 for “failure to present an instrument for stamp after 2months and not more than 3 months after execution” Section 37(1)(b) of the Act by increasing the fine from $4 to $1,000 for “failure to present an instrument for stamp within 3 months after execution.” Clause 11 amends section 47(2) of the Act by increasing the fine from $100 to $25,000 for refusing to permit or obstructs the Commissioner from making inspections, taking notes or extracts of records Clause 12 amends section 48 of the Act by increasing the fine for “Knowingly enrolling any instrument not duly stamped”, from $20 to $25,000.
Clause 13 amends section 51 of the Act by increasing the fine for “Neglect or refusal to cancel adhesive stamps”, from $20 to $25,000.

Clause 14 amends section 55(1) of the Act by increasing the fine for “Failure to affix and cancel stamp on bills” from $100 to $25,000.

Clause 15 amends section 61(1) of the Act by increasing the fine for the two offences listed in in this section, from $100 to $25,000.
Clause 16 amends section 63 of the Act by increasing the fine for “Knowingly and wilfully notes or protests any bill or promissory note” from $40 to $25,000.

Clause 17 amends the heading of Part 3, Division 2, Subdivision C by inserting “and Air Waybills” after “Bills of Lading”.

This is done to accommodate the extension to include air waybills in the Act.

Clause 18 amends section 64(2) of the Act by increasing the fine for “Makes or execute bill of lading not duly stamped” from $100 to $25,000.
Clause 19 amends section 64 of the Act by inserting a new section 64A to provide that stamp duty be charged on air waybills.

The new section 64A is as follow: “Air waybills 64A.—(1) An air waybill includes any receipt given in lieu thereof from the master or agent of an aircraft and is not to be stamped after execution.

(2) Every person shall be guilty of an offence and is liable to a fine not exceeding $25,000 who makes or executes an air waybill not duly stamped.
(3) The duty on an air waybill may be denoted by an adhesive stamp.” Clause 20 amends section 65 of the Act by increasing the fine for knowingly and wilfully delivers, assigns … in Fiji any bond, debenture … or any principle money, interest or dividend accrued … before the instrument is stamped, from $40 to $25,000.

Clause 21 amends: - section 68(a) of the Act by increasing the fine from $1 to “not exceeding $1000” for failure to stamp a charter-party within 7 days after its first execution.
- section 68(b) of the Act by increasing the fine from $20 to “not exceeding $2000” for failure to stamp a charter-party after 7 days from its first execution.

Clause 22 amends section 78(1) of the Act by increasing the fine from $40 to $25,000 for a notary public who knowingly and wilfully attests or certifies the execution of any instrument liable to Enquiries: research@parliament.gov.fj 4 July 2017 2 PARLIAMENT OF THE REPUBLIC OF FIJI Services duty and not appearing to be duly stamped.
BILL SUMMARY Clause 23 is to amend section 88.

[Research Services noted that Section 88 was repealed in 1968 Ordinance 41.]

Clause 24 amends section 103 of the Act by increasing the fine from $40 to $25,000 for issuing unstamped documents, writs or processes.

Clause 25 amends the Schedule to the Act to provide for the stamp duty fee to be charged on air waybills.
Clause 25 also amends the Schedule to the Act to provide for exemptions for the charging of stamp duty on a transfer through a will or the transfer of a principal place of residence, first residential property, an interest in a capital asset, or shares in a company between spouses, parents and children and grandparents and grandchildren where the transfer is done out of love and affection.

Gender analysis The Bill does not have any disproportionate impact on women and men.
Further Information  Pensions (Budget Amendment) Bill 2017, can be seen here: http://www.parliament.gov.fj/wp-content/uploads/2017/03/Bill-No.-23-Stamp-Duties- Budget-Amentment.pdf [Accessed on 04 July 2017] Disclaimer This bill summary was prepared to assist consideration of the Bill by Members of Parliament.

It has no official status.

Although every effort has been made to ensure accuracy, it should not be taken as a complete or authoritative guide to the Bill.
The Research and Library Team shall not be liable for any errors or omissions, or for any loss or damage of any kind arising from its use, and may remove, vary or amend any information at any time without prior notice.

The Research and Library Team accepts no responsibility for any references or links to, or the content of, information maintained by third parties.

Other sources should be consulted to determine the subsequent official status of the Bill.

Enquiries: research@parliament.gov.fj 4 July 2017 3