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Stamp Tax

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Stamp tax

Stamp Duty
A tax placed on legal documents upon transfer. For example, a stamp duty may be assessed on the deed to a house when it is sold before the deed can pass from the seller to the buyer. The term comes from the fact that governments used to place physical stamps on the legal documents as proof that the duty had been paid, but this practice is fairly uncommon now. Stamp duties are most common in some Commonwealth of Nations countries, such as Singapore and Australia, as well as in some U.S. states.


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From the second year, the government will scrap stamp tax, entertainment tax, and commodity tax on electrical appliances, beverages, glass panels, and rubber tires, in addition to subsidizing passengers of mass-transportation systems.
Stamp tax on property purchases and value-added tax of land on property sales was lifted from November 2008 and minimum deposits for first-time home buyers was also slashed.
Stamp tax on property purchases and value-added tax of land on property sales was lifted from November 2008 and minimum deposits for first-time home buyers was also slashed.
 
 
 
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