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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Florida imposes a documentary stamp tax on transfers of real estate by deed at a rate of $.70 per $100 or part thereof of consideration.
Also available is a Florida's documentary stamp tax brochure, which reflects law changes that were made during the 2002 legislative session.
The DOF said excise tax collection from automobiles was above target by P6.2 billion due to higher purchasing power for vehicles, while documentary stamp tax was likewise higher than target by P4.7 billion because of higher transactions value and better collection efficiency.
The fate of the stamp tax at the beginning of last week led the EGX to register a low turnover of nearly EGP 450m during the first sessions of the week, amid cautious short term trading.
LIMITED STATE SUPPORT: The GF benefits from limited potential state support through the fund's ability to replenish the corpus by drawing on an amount up to 50% of the prior year's documentary stamp tax allocation to the SHTF.
Workers earning minimum wage are currently subject to income taxes of TL 56.84 and TL 7.75 in stamp tax. Once these taxes are lifted, TL 65 will be added to the current minimum wage of TL 803.
The energy tax will generate extra tax income of NT$80-90 billion a year, which will be used in tax reduction entirely, including raising the tax exemption amount for personal income tax, elimination of commodity tax for electric appliances and some other products, cancellation of stamp tax for entertainment, energy subsidy for low-income families, and subsidy for mass transportation system.
Ten years ago, the Treasury received pounds 45m revenue from the stamp tax paid by home buyers in the North West, but that figure has now shot up to pounds 330m.
dollar traded in the lower 121 yen zone Wednesday morning in Tokyo with investors cautious about falls in Chinese stocks in Asian markets after a hike in China's stamp tax on securities trading.
2005), holding that a transfer of real estate from a parent transferor to its wholly owned transferee, absent any exchange of value, is not subject to the Florida documentary stamp tax on deeds.
David Wilson, of the Mortgage Advice Bureau, said: "Most first time buyers do not realise what stamp tax is.
The Department of Revenue has published a free brochure designed to help citizens understand the requirements of Florida's Documentary Stamp Tax Law.