stamp duty

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stamp duty

a tax imposed on written instruments (e.g. conveyances). Stamp duties are either AD VALOREM, where the amount of duty payable varies according to the value of the transaction effected by the instrument, or fixed in amount, whatever the effected value. Where a stamp is essential to the legal validity of an instrument, that instrument cannot be used as evidence in civil proceedings unless the conditions required by the Stamp Act 1891 are met and the penalties set out there paid.
References in periodicals archive ?
But since the Bureau of Internal Revenue ruled in 2008 that such advances are not subject to documentary stamp taxes, the court said 'good faith' justified the removal of interest and surcharges.
The council has so far agreed on amendments to the country's income and stamp taxes, in addition to legal regulations regarding the latter, but not discussions have taken place regarding amendments to the country's sales tax code.
The guarantee fund also benefits from limited ongoing state support through legislation that allows for drawing on a portion of future documentary stamp taxes allocated to the State Housing Trust Fund (SHTF).
The Bureau of Internal Revenue (BIR) is expanding its investigation of the rampant use of fake cigarette stamp taxes to include other tobacco players.
Egypt's Finance Minister Al-Morsi Hegazy stated that the government had also placed "1/1000″ stamp taxes on daily stock market exchanges, in conjunction with a new tax on coupon dividends, a waiver of bonus shares, and the preservation of its tax on mergers and divestitures.
Val Culley, ACCA spokesperson for the West Midlands, said: 'Any purchaser of property must deliver a Land Transaction Return to the Inland Revenue Stamp Taxes Office within 30 days after the date of the transaction.
Corpuz said the PCSO had started paying documentary stamp taxes (DST) that were not remitted to the BIR.
It also noted that Calata had submitted evidence to show that documentary stamp taxes (DST) returns were filed on loans taken from his mother and corresponding taxes paid, although belatedly complied with.
Florida has levied documentary stamp taxes for more than 70 years and has issued land acquisition bonds of several types since 1964.
Subsequent sale or transfer would also be subject to documentary stamp taxes.