stamp duty

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Stamp duty

Applies mainly to international equities. Taxes on foreign transactions, usually a percentage of total transaction amount, that can be unilateral or bilateral in nature.

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.

stamp duty

a UK TAX on the value of SHARES purchased on the STOCK MARKET.

stamp duty

a TAX levied on the purchase of an ASSET, such as a house or stocks and shares, etc., usually as a percentage of the purchase price. Currently (2005), for example, houses in the price range up to £120,000 are exempt from stamp duty; houses valued at between £120,000 and £249,000 incur stamp duty at 1%; between £250,000 and £499,000 the charge is 3%, and for properties over £500,000 stamp duty is levied at 4%. The rate for stocks and shares is 0.5% on the total value of the purchase. Stamp duty is usually used by the government to raise revenue, but occasionally it is used as a tool of FISCAL POLICY to, for example, dampen down the demand for houses.
References in periodicals archive ?
Internal revenue taxes refer to taxes collected by the BIR such as income taxes, estate and donor's taxes, value-added tax, excise taxes and documentary stamp taxes.
Standard Insurance was contesting the assessed tax liability issued by the BIR against it arising from a deficiency in the payment of documentary stamp taxes for the taxable years 2011 to 2013 amounting to P418.8 million, including interest and compromise penalty.
Under the National Internal Revenue Code (NIRC), the national internal revenue taxes include "income taxes; estate and donor's taxes; value-added tax; other percentage taxes; excise taxes; documentary stamp taxes; and such other taxes as are hereafter may be imposed and collected by the BIR."
This was partially offset by a 24-basis point increase in cost of funds due to higher time deposit rates and higher documentary stamp taxes on deposits.
It is also drafting the excise taxes on automobiles, mineral products, tobacco, sweetened beverage, cosmetic procedures, estate, donor's , percentage and documentary stamp taxes.
Internal revenue taxes, meanwhile, refer to taxes imposed by the BIR such as income taxes, estate and donor's taxes, value-added tax, excise taxes, and documentary stamp taxes.
to raise funds and pay the BIR some R25 billion in deficiency excise and documentary stamp taxes.
the P28.88 million it paid for interest and surcharges on documentary stamp taxes.
They argued that it is unreasonable for the government to impose taxes on assets acquired after paying the necessary capital gains and documentary stamp taxes with money that has already been subjected to either income or business tax.
Mighty Corp's lawyer, Sigfrid Fortun, protested the raids, saying the customs bureau had no authority to inspect excise stamp taxes as it was exclusively vested in the revenue bureau.
The BIR personnel reviewed the stamp taxes of 33 master cases of Marlboro cigarettes, 11 master cases of Fortune and seven master cases of Hope-products of market leader PMFTC Inc.; 19 master cases of Jackpot; as well as 164 master cases of Mighty products, on top of 902 loose packs of Mighty cigarettes.
The Bureau of Internal Revenue (BIR) is expanding its investigation of the rampant use of fake cigarette stamp taxes to include other tobacco players.