stamp tax


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stamp tax,

method of collecting duties on certain transactions by means of a validating stamp attached to the taxable instrument, which may be a judicial act, a commercial document, a transfer of property, or law proceedings. Such a stamp is to be distinguished from a postage stamp, which is not a duty but a simple method of paying the government for a service rendered. Stamp taxes, apparently originating in the Netherlands, were introduced into England in 1694 and extended to the American colonies in 1765. Colonial opposition to stamp taxes contributed to the hostility against England that eventually resulted in the American Revolution. In the United States, stamp taxes, applying not only to legal and commercial acts but also to goods, were used to finance the Civil War and the Spanish-American War. Today the federal government imposes stamp taxes on the issue and transfer of stocks and bonds, on deeds, and on playing cards.

Bibliography

See J. Due, Government Finance (4th ed. 1968); J. W. Pyke, ed., An Alphabetical Guide to Stamp Duties (1968).

Stamp Tax

 

a special government tax collected from individuals and organizations at the time of the official registration of documents concerning civil and legal transactions. The tax is collected through the sale of stamped blanks for drawing up documents or the sale of special stamps. It can be paid either as a set sum for each type of document (simple stamp tax) or in relation to the sum of the transaction decreed in the document (proportional stamp tax). The first stamp tax was introduced in the Netherlands in 1624. In Russia, a stamp tax was established by Peter I in 1699. In the Soviet Union, a stamp tax was collected after Feb. 16, 1922, and abolished by the tax reform of Oct. 1, 1930. A state tax is collected, however, when declarations are presented in juridical bodies.

References in periodicals archive ?
CMC recorded the deed and paid documentary stamp tax on the full value of the conveyance.
The stamp tax was imposed while Egypt was endeavoring to complete negotiations with the International Monetary Fund to obtain a USD 4.
As described in this article, the Crescent decision may result in the Florida documentary stamp tax applying to substantially fewer transfers of Florida real estate.
When placing an order, request form number GT-800014, Documentary Stamp Tax Brochure.
First, the gains tax rate of 10 percent is substantially greater than the tax rate used in any stamp tax.
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The stamp tax in Hong Kong embraces a progressive rate scheme.
The department is asking those groups to voluntarily disclose if they have unpaid documentary stamp tax liabilities.
To add insult to injury, TRAIN doubles the documentary stamp tax (60 centavos now from 30 centavos) for every P200 of remittance sent to the Philippines.
However, the sale, barter, transfer and or assignment of shares of stock of publicly-listed companies that fail to meet the MPO is subject to final tax of five percent or 10 percent on the net capital gains, and documentary stamp tax.