Rework stamp in DBK

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How to Rework stamp in DBK

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hi friends this is linda and im back with another video in my organization series um in my last video i shared with you my full craft room tour and today i want to share with you something that has been requested a time for me which is my stamp organization im also sharing this as part of the stretch stretcher stamp series from shoe prep creations so i will link all of that below so you can go check out the other videos that are being shared today from shun and other contributors on their stamp organization so i want to start off by saying my stamp organization system is not perfect and im still working out the kinks but i want to share with you whats working for me what doesnt work and what im tweaking along the way so to start out i have these two binders and these are my stamp organization binders ive labeled them on the side and i just picked these up on amazon and all the materials that i use im going to link for you in the description box inside of these binders i have a

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What is stamp duty and why is it important?

Stamp duty is a legal tax payable in full and acts as an evidence for any sale or purchase of a property. The levy of stamp duty is a state subject and thus the rates of stamp duty vary from state to state. The Centre levies stamp duty on specified instruments and also fixes the rates for these instruments.

Who will pay for stamp duty?

Stamp duty is always paid by the person buying the property. Typically, your solicitor, conveyancer or estate agent will file a return to HM Revenue and Customs (HMRC) and pay any stamp duty on the day of completion on your behalf. They will also claim any tax relief that you might be eligible for.

Who can collect stamp duty in Nigeria?

In line with Section 4 of the SDA (as amended), the Federal Inland Revenue Service (FIRS) is the only competent authority to impose, charge and collect duties on instruments involving a company or a body of individuals.

How is penalty for late stamping calculated?

RM50. 00 or 10% of the deficient duty, whichever is the greater, if stamped after 3 months but not later than 6 months after the time for stamping; RM100. 00 or 20% of the deficient duty, whichever is the greater, if stamped after 6 months from the time for stamping; may be imposed.

Is there stamp duty in BVI?

Stamp duty is currently assessed at 4 per cent for belongers or 12 per cent for non-belongers on either the purchase consideration or the market value of the property, whichever is higher.

What is Stamp Duties Act in Nigeria?

The Stamp Duties Act provides that an instrument executed in Nigeria (or if executed elsewhere, relating to property in Nigeria) or any matter or thing to be done in Nigeria must be stamped in order to be admissible in evidence in civil proceedings in Nigeria.

What are the documents that requires stamp duty?

Stamp duty is a tax that is levied on instruments; it is payable to the Federal and State Government on instruments such as Sale Agreements, Tenancy Agreements, Contracts or even documents such as Letters and Certificates of admission, Insurance Policies, etc.

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