What is a stamp duty?

Stamp duty is the tax on legal documents, usually when transferring assets or property.

An assignment is displayed
If necessary, handover of apartments, buildings, copyrights, land, patents, and securities as well as military commissions and marriage certificates are needed. The seal is known as a stamp.

The symbol tax is said to have been introduced in Spain in the early 17th century and was introduced throughout Europe in the following centuries, in the Netherlands, France, Denmark, Prussia, and England.

The Americans will remember that stamp duty began with the introduction of the emblem by the British Parliament in 1765. The tax was imposed on the American invaders who had to tax all printed paper such as licenses, newspapers, transport documents, or legal documents. documented. At that time, stamp duty income was used to mobilize troops in certain locations in America.

While the United States is used to print various transaction documents, there are no federal taxes at this time. Only states collect US tax stamps.
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Stamp duty history
Before income and consumption taxes became the main tax base, the government increased their income through property taxes, import duties, and financial transaction tax stamps. With an increase in income and consumption, it makes sense to remove stamp duty. Then why do we have one?

State fees are generally collected far less often than in the general category of financial transactions. However, they still belong. They are levied when real estate is transferred or sold, and taxes are levied on mortgages and other instruments used in many countries to get real estate loans. State obligations are maintained as an adequate source of income for the state through taxes and to protect people from speculative real estate investments.

The press works on the newsIn the latest news at the end of 2017, the UK increased the stamp duty on residential property to £ 300,000, indicating that stamp duty does not apply to the first £ 300,000 for property to £ 500,000. This resulted in a significant reduction in stamp duty for 95% of first-time buyers, with 80% not paying stamp duty. According to the British government, this means savings of up to £ 5,000 for first-time buyers. Tax cuts occur when the Conservative Party tries to deal with the housing crisis, which is quite acute in Britain. The Labor Party criticized the moment as a half measure that did not make the house affordable and instead raised prices.