Definition

Noun: A government tax levied on certain legal documents, transactions, or publications, historically collected by requiring the purchase and physical attachment of a revenue stamp to the document as proof of payment.

Usage

Stamp duty is a form of transaction tax. It is typically payable by the purchaser or the party executing the document. The amount is often a percentage of the transaction value or a fixed fee, depending on the nature of the document and local laws. * The stamp duty on the property transfer was several thousand dollars. * Before the contract is legally valid, you must pay the stamp duty. * Some jurisdictions have abolished stamp duty on share transactions.

Advanced Usage

• "Stamp duty land tax (SDLT)": A specific term used in the UK for the stamp duty levied on purchases of land and property over a certain value.
  • First-time buyers may be eligible for relief on stamp duty land tax.
• The concept can be applied metaphorically to describe any mandatory, often resented, fee.
  • The new administrative fee felt like a stamp duty on using the public service.

Variants and Related Words

• Stamp tax: A direct synonym for stamp duty.
• Revenue stamp: The physical adhesive label or impressed mark that was historically used to denote payment of the duty.
• Documentary tax: A broader category of tax on legal documents, which includes stamp duty.

Synonyms

• Transfer tax
• Documentary tax
• Levy on instruments

Related Phrases

• Subject to stamp duty: Describes a transaction or document that legally requires the payment of this tax.
  • The lease agreement is subject to stamp duty if the term exceeds one year.
• Stamp duty payable: A formal phrase indicating the amount owed.
  • The solicitor calculated the stamp duty payable on the conveyance.

Noun

1. a tax collected by requiring a stamp to be purchased and attached (usually on documents or publications)